Bilateral exchanges

Bilateral exchanges concern all securities which are not eligible to processing via the SIMT, namely non-standardized cheques and bills of exchange (BoE).

Since the permanent closure of the manual clearing house of Casablanca in December 2009, all securities which are not eligible to processing via the SIMT, namely non-standardized cheques and bills of exchange (BoE), are subject to bilateral exchanges between banks, based on an agreement whereby the two parties agree to exchange their mutual bonds directly, without going through an automatic clearing house.

The volume of these exchanged values is hence marginal, and represents 605 operations for an amount of 377 million dirhams in 2015, i.e. merely 0.03 percent of interbank transactions. 

Non-standardized BoEs still constitute the bulk of bilateral exchanges, as their shares in the amount of total bilateral transactions equal 48 percent in number and 93 percent in value.

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