Regulatory Alerts2024-03-06
Instruction No. 03/2024 on Reporting Rules for Recovery Plans of Banking Financial Institutions
The National Bank of Angola issued Instruction No. 03/2024 to mandate standardized reporting and structural requirements for the recovery plans of Banking Financial Institutions under its supervision. The directive requires institutions to submit detailed, calibrated plans containing executive summaries, strategic analyses, stress scenarios, and dynamic indicator frameworks in both physical and electronic formats to the central bank. It further enforces continuous monitoring, annual administrative approval, and periodic independent audits to ensure timely strategy activation, robust governance integration, and overall financial system stability.
Share