Regulatory Alerts2018-10-25
Directive No. 03-DCC-2018, of October 26
The Foreign Exchange Control Department (DCC) mandates that commercial banks report all valid foreign currency operations awaiting coverage in the Foreign Currency Needs Map starting November 1, 2018, while excluding specific private and goods operations older than 90 and 60 days respectively. The directive requires banks to record letter of credit numbers, linked auction identifiers, and utilization dates in designated fields to streamline settlement monitoring under Quantity Auctions. It revokes the prior April 2018 directive and clarifies that unresolved interpretative matters fall under the DCC jurisdiction via dcc@bna.ao.
Share