Regulatory Alerts1998-04-27
Instruction No. 05/1998, dated April 28
The National Bank of Angola issued Instruction No. 05/1998 to establish the mandatory reserve regime for all authorized financial institutions operating in the country. The regulation mandates that reserves be calculated fortnightly using specific arithmetic formulas applied to current, time, and certified deposits in national currency, with coefficients set at 35% for current deposits and checks and 10% for time deposits. It further defines the calculation of effective balances, voluntary deposit remuneration, penalty rates for reserve insufficiency, and submission deadlines for fortnightly reporting tables.
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