Regulatory Alerts2023-01-25
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
The Bank of Mozambique issued Circular No. 01/EMO/2023 to set the mandatory reserve incidence rates at 28.00% for national currency and 28.50% for foreign currency. The directive becomes effective for the reserve establishment period beginning February 22, 2023, and officially revokes Circular No. 06/EMO/2021 and all contrary provisions. Any questions regarding the interpretation or application of these rates must be submitted to the Bank's Markets and Reserve Management Department.
___ 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:
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The mandatory reserve coefficient applicable to the incidence base in national currency at 28.00%.
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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