Regulatory Alerts2020-08-21
Notice No. 19/2020 of August 21 on Operational Rules for the Credit Guarantee Fund
The National Bank of Angola issued Notice No. 19/2020 to establish operational and prudential rules for the Credit Guarantee Fund, mandating a minimum 12% Regulatory Solvency Ratio and detailing capital composition, risk-weighted asset calculations, and counter-guarantee limits. The regulation requires the Fund to maintain adequate own funds, comply with specific accounting and reporting standards via the Financial Institutions Portal, and register all guarantees and counter-guarantees with the Credit Information and Risk Central. Non-compliance triggers sanctions under the Framework Law on Financial Institutions, with interpretative disputes resolved directly by the National Bank of Angola.
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