Regulatory Alerts2020-09-30 | CBE9.2Added · Updated
CBE Regulation Book 9.2 - Rules Regulating Repo Operations
The Central Bank of Egypt establishes rules for 7-day fixed-yield repo auctions, requiring participating banks to submit bids between 8:00 AM and 11:00 AM on the second business day prior to the auction date for amounts of at least 1 million EGP. The Central Bank calculates the present value of collateral using a declared yield rate and applies a 3% margin to determine the repo amount, with settlement occurring on the third business day. The regulation mandates specific SWIFT message protocols (599MT and 011MT) for bid submission and confirmation, and outlines the transfer of ownership, margin requirements, and dispute resolution mechanisms for the transactions.
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