Regulatory Alerts2016-11-01
Instruction No. 03/CRCT/2010 on Accounting - Securities Accounts of Account Keepers
The Bank of Central African States (BEAC) Board of Supervisors issued Instruction No. 03/CRCT/2010 to establish mandatory accounting principles and a standardized chart of accounts for Treasury Securities Specialists acting as account keepers. The directive requires double-entry physical accounting that strictly segregates proprietary and client securities, mandates daily reconciliation with the Securities Settlement and Custody Cell (CRCT), and prescribes specific debit/credit posting rules for issuances, repos, pledges, and transfers. It further obligates account keepers to maintain detailed journals, statements, and trial balances while transmitting daily segregation reports, monthly detailed balances, and annual securities balance sheets to the CRCT.