Emerging Markets Rates and Currencies Handbook

Unwinding: Yes with supporting documents and valid reason. Settlement: Mark-to-mark at prevailing market rate or fixing of the day. Gross-settled/full-funds flow for FX spot. Early Maturity: Yes with supporting documents and valid reason. Settlement: Mark-to-mark at prevailing market rate or fixing of the day. Gross-settled/full-funds flow for FX spot. Documentation Requirements Up to FX Spot: Exchange control regulated, convertibility subject to appropriate underlying documentation. Outright Forward FX: Done with selective names and subject to proper documentation. Maximum tenor is 9 months. Request need to be submitted at Central Bank in order to check the propose of the forward/hedging. Trade Flows Remittance of XAF out of the CEMAC is subject to required set of documents in compliance with the Local Exchange Control Regulation. Capital Flow and FDI Letter of Credit as per local EXCON regulation. No restriction for FDI. Additional Comments Transfers of funds from CEMAC are subject to administrative fees charged by local banks. These fees are determined by the bank but must not exceed 0.25% of the funds transferred within CEMAC and 0.50% of funds transferred outside CEMAC “not including VAT and other specific tax”. Overseas fund transfers exceeding 5,000,000 FCFA (~USD 10,000) must be carried out through authorized intermediaries, for instance approved local banks (the Authorized Intermediaries) Onshore entity (Resident Corporates) to hedge risk only based on effective commercial transactions, no speculative hedging is allowed. Citibank Cameroon S.A. Centre d’Affaires Flatters, 96 Rue Flatters, P.O BOX 4571 Douala — Cameroon FX Sales Contact: +237 233 42 42 07