CMA and Banque du Liban Announcement No 42 on Eurobond Mid Price for Open-Ended Fund NAV Calculation

The Capital Markets Authority and Banque du Liban require all approved financial institutions to adopt Midclear S.A.L.'s mid price for Lebanon's foreign currency bonds when calculating the Net Asset Value of their Open-Ended Collective Investment Funds. This directive implements Law No 161/2011 and CMA Board decision No 12/7/18, mandating standardized bond valuation across the sector. The announcement takes effect immediately upon its publication in the Official Gazette.

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Announcement No 42
Addressed to banks, specialized banks, financial institutions and financial intermediation institutions

Pursuant to Law No 161 dated 17/8/2011 on Capital Markets, Pursuant to the decision of the Capital Markets Authority’s Board No 12/7/18 taken in its meeting held on 11/6/2018, We advise you of the following:
First: All approved institutions shall adopt the mid price of the Republic of Lebanon's foreign currency bonds (Eurobonds), notified to them by Midclear S.A.L, for calculating the Net Asset Value (NAV) of the Open-Ended Collective Investment Funds they have established. Second: This Announcement shall enter in force upon its publication in the Official Gazette. Beirut, June 22, 2018 Chairman of the CMA/ Governor of Banque du Liban Riad Toufic Salame

Lineage: In force

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Source: Capital Markets Authority Lebanon — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works