Regulatory Alerts2023-11-28
Guideline No. 16 - 2023, November 28
The National Bank of Angola issued Guideline No. 16/2023 to eliminate the custody fee on excess free reserves held by commercial banks at the central bank. This revocation of Guideline No. 08/23 sustains the mobilization of idle banking resources and strengthens financial intermediation between banking institutions and economic agents. The measure takes effect upon publication, with the central bank retaining authority to resolve any interpretative doubts or omissions.
GUIDELINE NO. 16/2023 of November 28 SUBJECT: FINANCIAL SYSTEM
- Revocation of Guideline No. 08/23, dated July 19, on the Custody Fee Applicable to the Free Reserves of Commercial Banks Deposited at the National Bank of Angola
Having fulfilled the objective of mobilizing idle resources in the Banking Financial System to strengthen financial intermediation between Banking Financial Institutions and economic agents; Pursuant to the combined provisions of item a) of paragraph 1 of Article 18 and paragraph 1 of Article 98, both of Law No. 24/21, dated October 18, the National Bank of Angola Law.
IT IS DETERMINED:
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Object This Guideline aims to eliminate the custody fee on the excess free reserves of Banking Financial Institutions, deposited at the National Bank of Angola.
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Scope This Guideline applies to Banking Financial Institutions.
CONTINUATION OF GUIDELINE NO. 16/2023 Page 2 of 2
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Revocation Guideline No. 08/23, dated July 19, on the Custody Fee applicable to the Free Reserves of Commercial Banks deposited at the National Bank of Angola, is hereby revoked.
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Doubts and Omissions Doubts and omissions arising from the interpretation and application of this Guideline are resolved by the National Bank of Angola.
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Entry into Force This Guideline enters into force on the date of its publication.
PUBLISHED. Luanda, November 28, 2023. THE GOVERNOR MANUEL ANTÓNIO TIAGO DIAS