Regulatory Alerts2012-02-16
Regulation (NAP) - Regulation on the Granting of Intraday Credit
The Central Bank of São Tomé and Príncipe establishes the contractual rules and collateral mechanisms for granting intraday credit to financial institutions participating in the Dobra 24 settlement network. The regulation mandates that eligible institutions secure intraday liquidity through foreign currency deposits, with interest calculated as the BCSTP reference rate plus a 2% spread. It further defines strict repayment timelines, automatic collateral execution upon default, and suspension or fine mechanisms for non-compliance to ensure stable intraday market operations.
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