2023-12-15 23:51:17
The volume of securities lending operations reached 301.23 billion dirhams (billion dirhams) at the end of 2022, an increase of 62.59% compared to the year 2021, according to the Moroccan Market Authority capital (AMMC).
“At the end of December 2022, the outstanding securities lending transactions stood at 20.53 billion dirhams,” indicated the capital markets regulatory authority in its 2022 annual report.
According to the public institution, chaired by Nezha Hayat, the distribution of volumes produced by category of borrowing clients recorded a change in classification over the past year.
Indeed, the document recently presented by the head of government shows that banks are in first position at 34.68%, ahead of Organizations for Collective Investment in Transferable Securities (UCITS) at 34.27%.
Still according to the said report, “on the lender side, the ranking remained identical to that observed in 2021, with a very large predominance of UCITS with 84.85% of the volumes achieved,” said the regulatory authority.
The institution also notes that securities lending operations for the past year mainly concerned Treasury Bonds (BDT), which were issued by auction, for 96.13% of the total volume compared to 88.79% in 2021.
The AMMC adds that “certificates of deposit (CD) and other negotiable debt securities (BSF, BT) were the subject of loan operations with respective shares of 2.94% and 0.86%” .
Note also that the average duration for a securities lending transaction carried out on the market varies between one and 13 weeks depending on the type of financial instrument and that “the longest holding periods recorded were 52 weeks for BDTs , 22 weeks for stocks and 8 weeks for CDs”, as indicated by the authority.
As a reminder, the AMMC was established by Law No. 43-12 with the mission of ensuring the protection of savings invested in financial instruments and ensuring equal treatment of savers, transparency and the integrity of the capital market and the information of investors.
Its mission also consists of ensuring the proper functioning of the capital market, ensuring the application of legislative and regulatory provisions and contributing to the promotion of financial education for savers.
The AMMC also ensures compliance with the legislation and regulations in force in the fight once morest money laundering by the people and organizations placed under its control.
Alain Bouithy
1702697661
#Sharp #increase #securities #lending
