Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Market  ✗ ✗ ✗ ✗ ✗ ✗ Offshore Market ✗ ✗ ✗ ✗ ✗ ✗ ✗ Onshore Volume (MM USD Daily) Offshore Volume (MM USD Daily) Onshore Max Tenor (Or Typical Tenor For Spot) Offshore Max Tenor (Or Typical Tenor For Spot) Onshore Typical Deal Size (MM USD) Offshore Typical Deal Size (MM USD) Not available N/A T + 2 N/A 0.5 - 2 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A CitiFX Pulse Capabilities  ✗ ✗ ✗ ✗ ✗ ✗ Source: Citi indicative information Market opening hours and liquidity during the day Note: On Friday, the market closes at 12.00 Fixing Central Bank fixing is published from Monday to Friday at 10.00 am on Reuters page BDL01. Regulation Offshore Restrictions: Onshore entity is permitted to transact FX with an offshore entity. As per local regulations, non-resident financial institutions are not allowed to hold local currency accounts. Thus, any transaction with an onshore financial institution involving local currency has to be related to a client request. As for local banks, overbought/oversold cap limit exists and is as follows: FCY/LCY cap is 1% of equity, FCY/FCY cap is 40% of equity. Non-Resident Restrictions: Non-resident corporate can trade local currency with onshore financial institutions. This is subject to approvals and have accounts opened with a local branch. No justification document is required for the same. License Requirements None. Requirements to open a foreign currency account No specific requirements. When opening an account for a new client, a customer activation form is needed; however when opening an account for an existing client, a letter from the client will be enough. Deal Management Rollover: N/A. Unwinding: N/A. Early Maturity: N/A. Documentation Requirements In order to close an FX transaction with the treasury department at Citi Lebanon, a client is required to sign an “Agreement for Forward and Spot Exchange”. Spot/Forward FX is done on account to account basis