Circular No. 01/EMO/2023, of January 25 - Approval of the Mandatory Reserve Incidence Rate and Revocation of Circular No. 06/EMO/2021, of September 14

___ Bank of Mozambique ___
Administration

MONETARY STABILITY DEPARTMENT
CIRCULAR NO. 01/EMO/2023

Maputo, January 25, 2023

SUBJECT: APPROVAL OF THE MANDATORY RESERVE INCIDENCE RATE AND REVOCATION OF CIRCULAR NO. 06/EMO/2021 OF SEPTEMBER 14

Pursuant to Article 6 of the Regulation on the Calculation and Establishment of Mandatory Reserves, approved by Notice No. 11/GBM/2021 of December 31, the Bank of Mozambique sets:

1. The mandatory reserve coefficient applicable to the incidence base in national currency at 28.00%.

2. The mandatory reserve coefficient applicable to the incidence base in foreign currency at 28.50%.

This Circular enters into force as of the mandatory reserve establishment period beginning on February 22, 2023, and revokes Circular No. 06/EMO/2021 of September 14, as well as all provisions contrary thereto.

Any doubts arising from the interpretation and application of this Circular must be submitted to the Markets and Reserve Management Department of the Bank of Mozambique.

BANK OF MOZAMBIQUE
Monetary Stability Department
Silvina de Abreu
Administrator