Emerging Markets Rates and Currencies Handbook

68 Citi | Emerging Markets Currencies Handbook 2021 Market opening hours and liquidity during the day 16.00 09.00 Good Liquidity No Liquidity Moderate Liquidity Fixing (incl. ticker) No Fixing. Bloomberg Ticker: {BSD Curncy} Regulation Offshore restrictions The remittance of funds or payments and the repatriation of profits, dividends, interest payments, capital or any other service payment abroad are subject to approval of the Central Bank. Non-resident restrictions Non-residents are not permitted to hold local currency without prior approval from the Central Bank. License requirements Only Authorized dealers are permitted to trade FX with the public. Requirements to open a foreign currency account Resident individuals and companies require exchange control approval from the Central Bank to open and maintain BSD currency accounts. Deal Management Rollover: Rollovers are possible. Unwinding: NA. Early Maturity: NA. Documentation Requirements Product specific Written Exchange Control Approval is required to sell BSD and buy hard currencies. Under specific circumstances, authorized dealers have been granted Delegated Authority to execute BSD sales against hard currencies without prior Central Bank Approval. Trade flows There are no restrictions to trading in FX Spot or Forward Markets. All banks are required to report FX transactions to the Central Bank. Capital flows/FDI There are no foreign exchange restrictions on capital flows coming into The Bahamas. Exchange Control Approval is required for the sale of BSD against hard currencies. Citibank N.A. Bahamas Branch 14 University (formerly Thompson Blvd.) Nassau, Bahamas FX Sales Contact: +1 242 302 8543 Source: Citi indicative information FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Offshore Onshore volume (MM USD daily) 10 — 30 Episodic N/A N/A N/A N/A N/A Offshore volume (MM USD daily) N/A N/A N/A N/A N/A N/A N/A Onshore max tenor (or typical tenor for spot) T + 0 to T+2 30 days N/A N/A N/A N/A N/A Offshore max tenor (or typical tenor for spot) N/A N/A N/A N/A N/A N/A N/A Onshore typical deal size (MM USD) 0.3 1 to 5 N/A N/A N/A N/A N/A Offshore typical deal size (MM USD) N/A N/A N/A N/A N/A N/A N/A CitiFX Pulse Capabilities (onshore) CitiFX Pulse Capabilities (offshore) Note: Citigroup Inc. and any of its affiliates do not provide accounting, tax, or legal advice. Please seek advice from a relevant licensed advisor. Source: Relevant legislation, publicly available sources. Bahamas