Regulatory Alerts2022-08-01
Directive No. 07-DME-2022, August 1
The Governor of the Banco Nacional de Angola, through its Markets Department, has issued Directive No. 07-DME-2022 to adjust key monetary policy interest rates effective immediately. The directive establishes the Basic Interest Rate (BNA Rate) at 20% per annum, sets the Permanent Liquidity Absorption Facility rate at 15%, and fixes the Permanent Lending Facility (FCO) rate at 23%. It simultaneously revokes Directive No. 08/DMA/2021 and grants the Markets Department authority to resolve any interpretative ambiguities regarding these adjustments.
GOVERNOR DIRECTIVE NO. 07/DME/ 2022 SOURCE: MARKETS DEPARTMENT (DME)
DATE 01/08/2022 SUBJECT: FINANCIAL SYSTEM
- Basic Interest Rate (BNA Rate)
- Facility - Permanent Lending Facilities (FCO) and Liquidity Absorption – Notice No. 11/2011, of October 20 Whereas it is necessary to adjust the interest rate of the Lending and Liquidity Absorption Facilities, regulated under Notice No. 11/2011 of October 20; In accordance with the decisions of the one hundred and sixth ordinary session of the Monetary Policy Committee, held on July 28, 2022; This Directive serves to establish the following:
- The Basic Interest Rate of the BNA (BNA Rate) is set at 20% (twenty percent) per annum;
- The Interest Rate of the Permanent Liquidity Absorption Facility is set at 15% (fifteen percent) per annum;
- The Interest Rate of the Permanent Lending Facility (FCO) is set at 23% (twenty-three percent) per annum;
- Doubts and omissions arising from the interpretation and application of this Directive shall be clarified by the Markets Department;
- Directive No. 08/DMA/2021 of July 6, concerning Permanent Lending Facilities (FCO) and Liquidity Absorption, is hereby revoked;
- This Directive enters into force immediately. Luanda, August 1, 2022. MARKETS DEPARTMENT
Tânia Patrícia de Oliveira Mendes Lopes -Director-
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