Regulatory Alerts2011-06-08
Notice No. 04-2011 of June 8, 2011
The Bank of Angola issued Notice No. 04-2011 to regulate the classification, granting, and recovery of credit operations by authorized financial institutions. The notice establishes a seven-tier risk classification system, mandates specific provisioning percentages for doubtful debts, and prohibits certain short-term foreign currency credit operations. It further details procedures for credit renegotiation, recovery, and the monthly review of credit risk classifications.
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