Regulatory Alerts2018-01-21
Notice No. 01-2018 of January 17: Exchange Rate Policy - Foreign Exchange Position Limit
The Bank of Angola issued Notice No. 01-2018 to establish the regulatory framework and calculation basis for the global foreign exchange position limits of commercial banks. The regulation mandates that banks maintain a daily net position not exceeding 10% of their Regulatory Own Funds, with a transitional schedule allowing up to 20% until March 31, 2018, and 10% thereafter. Compliance requires daily reporting to the central bank, conversion of positions to Euros using reference rates, and adherence to specific accounting and derivative valuation standards.
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