Regulatory Alerts2016-03-08
Notice No. 01/96 on Interest Rates
The Bank of Cape Verde issued Notice No. 01/96 to deregulate interest rates on time deposits exceeding 180 days and up to one year, empowering credit institutions to set passive operation rates freely according to market competition. The notice explicitly revokes conflicting provisions from Notices 03/95, 04/94, and 07/94 published in the Official Gazette. It takes immediate effect under Article 31 of the Bank's Organic Law, replacing administrative rate fixation with market-driven pricing.
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