Regulatory Alerts2020-01-30 | 13187Issuing of Certificates of Deposit & Banking Certificates and Bonds
The Governor of the Central Bank of Lebanon issued Intermediary Circular No. 13187 to amend two foundational decisions regarding debt securities and banking certificates. The amendments mandate the repayment of principal and interest for all qualifying instruments held by custodians in Lebanon directly into open accounts at Lebanese banks. This emergency measure, effective for six months from January 30, 2020, also subjects the conversion of these instruments to the exceptional procedures applied by Euroclear S.A.N.V.
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