Regulatory Alerts2022-12-21
Circular No. 07/EFI/2022, of December 21 - Structure for Presenting Information Elements for the Preparation of Resolution Plans
The Bank of Mozambique issued Circular No. 07/EFI/2022 to mandate a standardized structure for financial institutions to submit information required for the development of resolution plans, in compliance with Article 140 of Law No. 20/2020. The directive requires licensed entities to complete and transmit detailed organizational, business, operational, financial, and payment system data via the Bank Supervision Application (BSA), covering critical functions, liability hierarchies, derivative exposures, and contractual termination triggers. Reporting must adhere to specified accounting standards, with designated managers responsible for data accuracy and timely updates to ensure the central bank maintains current information for potential resolution scenarios.