Regulatory Alerts2024-11-15
Added · Updated
Instruction No. 25 to Banks (Modification No. 1): Foreign Exchange Adjudications by the Central Bank of Congo
Instruction No. 25 establishes the rules for organizing foreign exchange adjudications by the Central Bank of Congo (BCC) on the exchange market, specifying bilateral and unilateral formats. It mandates that only banks may participate, sets daily schedules for bilateral sessions and conditional schedules for unilateral ones, and defines submission deadlines, minimum amounts (USD 50,000), and increments (USD 10,000). The instruction imposes a 20% cap on individual allocations relative to the adjudicated envelope, details the clearing methods (American auction for bilateral, Dutch auction for unilateral), and outlines notification, settlement, and sanction procedures for non-compliance.
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