Regulatory Alerts2018-08-01
Notice No. 06/2018 of August 2, 2018
The National Bank of Angola issued Notice No. 06/2018 to establish a daily global foreign exchange position limit of 10% of Regulated Own Funds for Commercial Banks, defining precise calculation and EUR conversion methodologies. The regulation mandates that banks report their daily positions, sell any excess in the interbank market or directly to the central bank at freely negotiated rates, and maintain supporting documentation. It repeals Notice No. 01/2018, assigns interpretation disputes to the National Bank of Angola, and takes effect upon publication.
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