Regulatory Alerts2017-12-01
Instruction No. 06/2017 of December 1, Monetary Policy: Mandatory Reserves
The National Bank of Angola issued Instruction No. 06/2017 to update the rules for calculating and complying with mandatory reserves, aiming to enhance monetary policy efficiency within the macroeconomic stability framework. The directive establishes specific tax bases in national and foreign currencies, assigns reserve coefficients ranging from 15% to 100% depending on the account type and government sector, and defines weekly calculation formulas and eligible assets for compliance. It further mandates daily data transmission via the SSIF system, outlines contingency procedures, and imposes a 1% monthly penalty on insufficient reserves or inconsistent reporting.
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