Layer two — exposure vector, eight coefficients
hover for source in filingsLCY revenue share~85% EGP
Segment note+ stress
FX asset positionLong USD
Currency risk note− hedge
Rate sensitivityPositive to corridor
NIM disclosure− hedge
External debtDFI lines
Debt noteneutral
Trapped cashLow
Cash restrictions note− hedge
Wage baseIndexed
Employment note+ stress
Import content of COGSNot applicable
—neutral
Export shareNone
—neutral
Sign convention matters as much as magnitude — an exporter with hard-currency receivables gains from the same move that destroys an importer.
Layer three — diagnosis
Rate-positive and long dollars through the float. The mandate is intermediation: hedging distribution and DFI-funded lines rather than balance-sheet repair.
Country signal in force
CPI YoY
26.4%
Policy rate
27.25%
USD/EGP
48.6
Parallel prem.
+2%
Reserves
$46.4b
Sov. spread
610bp
Ranked lead set
3- 01NowDFI-funded trade line
Risk participation to unlock import LC capacity for corporate clients.
TTS FILarge - 02OngoingHedging distribution
Structured FX products placed into the corporate book.
MarketsRecurring - 03NowCorrespondent clearing
USD clearing off the enlarged remittance flow.
TTS FIAnnuity
Timing is the product: the pitch is strongest at computable moments — the quarter a coefficient breaches a threshold, and the month the policy window reopens.