Regulatory Alerts2023-03-30
Instruction No. 04/2023 of March 30
The Banco Nacional de Angola issued Instruction No. 04/2023 to update the calculation and compliance rules for mandatory reserves held by supervised banking financial institutions. The directive establishes national and foreign currency incidence bases, specifies eligible and ineligible accounts (excluding Bankita balances), and mandates biweekly calculations using defined arithmetic formulas and reserve coefficients. It further outlines reporting procedures via the SSIF, contingency measures for system unavailability, and imposes a monthly 1% penalty on reserve shortfalls, revoking prior conflicting regulations.
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