Notice No. 05/2025 of 10 September

PUBLISHED IN THE OFFICIAL GAZETTE, FIRST SERIES, NO. 172, OF 10 SEPTEMBER 2025 NOTICE NO. 05/2025 SUBJECT: FINANCIAL SYSTEM

• Determination of Initial, Periodic and Extraordinary Contributions to the Resolution Fund.

Whereas it is necessary to establish the method for determining the initial, periodic and extraordinary contributions that banking financial institutions must make to the Resolution Fund; Pursuant to the combined provisions of paragraph 1 of Article 303 and paragraph 1 of Article 304, both of Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, of subparagraph f) of paragraph 1 of Article 31 and paragraph 1 of Article 98 of Law No. 24/21 of 18 October, the Banco Nacional de Angola Law; I DETERMINE:

CHAPTER I GENERAL PROVISIONS

Article 1. (Subject Matter) This Notice establishes the method for determining the initial, periodic and extraordinary contributions that participating institutions are subject to making to the Resolution Fund.

Article 2. (Scope) This Notice applies to the financial institutions participating in the Resolution Fund, as provided for in subparagraphs a) and b) of paragraph 1 of Article 300 of the General Regime of Financial Institutions Law.

Article 3. (Definitions) Without prejudice to the definitions established in Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, for the purposes of this Notice, the following shall be understood as: a) Extraordinary contribution: special payment made by participating financial institutions to the Resolution Fund when its resources are insufficient to meet its obligations. b) Initial contribution: payment made to the Resolution Fund at the commencement of its activity by participating financial institutions; c) Periodic contribution: payment made annually by participating financial institutions to the Resolution Fund; d) Participating financial institutions: banks, branches and subsidiaries of foreign banking financial institutions, which are mandatory participants in the Resolution Fund.

CHAPTER II INITIAL CONTRIBUTION

Article 4. (Initial Contribution) Participating financial institutions are subject to paying initial contributions to the Resolution Fund, in accordance with the following calculation formula: 𝐶𝑜𝑛𝑡𝑟𝑖𝑏𝑢𝑖çã𝑜 𝐼𝑛𝑖𝑐𝑖𝑎𝑙 = 𝑇𝑎𝑥𝑎 𝑑𝑒 𝐶𝑜𝑛𝑡𝑟𝑖𝑏𝑢𝑖çã𝑜 𝑖𝑛𝑖𝑐𝑖𝑎𝑙 ∗ 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑃𝑟ó𝑝𝑟𝑖𝑜 (𝑛 − 1)

Article 5. (Tax Base for Initial Contribution) The initial contribution to the Resolution Fund is levied on the amount of audited accounting own funds existing during the period of the Fund's establishment.

Article 6. (Initial Contribution Rate)

1. The rate applicable to the tax base defined in the preceding article is 1% (one percent).
2. The Banco Nacional de Angola may amend the rate established in the preceding paragraph of this article, after hearing the Resolution Fund.

Article 7. (Payment of Initial Contribution)

1. The initial contribution due by participating financial institutions must be paid within 30 days, counted from the registration of the commencement of activity, upon notification by the Resolution Fund.
2. The payment of the initial contribution must be made in a single installment.
3. The payment method for the initial contribution is communicated to participating financial institutions, via written notification by the Resolution Fund.

CHAPTER III PERIODIC CONTRIBUTIONS

Article 8. (Periodic Contributions)

1. Participating financial institutions are subject to paying annual periodic contributions to the Resolution Fund.
2. Periodic contributions are due in the year following the payment of the initial contribution.

Article 9. (Tax Base for Periodic Contribution) The tax base calculated in accordance with paragraph 2 of Article 304 of the General Regime of Financial Institutions Law is calculated by reference to the average of the monthly balances of the total liability elements relating to the year preceding that to which the contribution payment relates.

Article 10. (Method for Calculating Periodic Contributions)

1. The amount of the periodic contribution due by each participating financial institution is determined by multiplying the tax base defined, in accordance with the preceding article, by the applicable contribution rate, in accordance with the following calculation formula: Contribuição Periódica = 𝐵𝑎𝑠𝑒 𝑑𝑒 𝐼𝑛𝑐𝑖𝑑ê𝑛𝑐𝑖𝑎 ∗ 𝑇𝑎𝑥𝑎 𝑑𝑒 𝐶𝑜𝑛𝑡𝑟𝑖𝑏𝑢𝑖çã𝑜 𝐴𝑛𝑢𝑎𝑙
2. The contribution rate referred to in the preceding paragraph is determined from a base rate, which is multiplied by an adjustment factor, calculated based on the risk profile of each participating financial institution, taking into account its solvency position, in accordance with the analysis and assessment process by the supervisor established in Article 215 of Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, as well as the phase of the economic cycle and the potential impact of pro-cyclical contributions on the financial situation of the participating financial institution.
3. After hearing the Resolution Fund, the Banco Nacional de Angola establishes, in specific annual regulation, by 30 April of the year immediately following that to which the contribution payment corresponds, the periodic contribution rate.
4. Without prejudice to the provisions of the preceding paragraph, the Banco Nacional de Angola may define minimum and maximum limits for periodic contributions.

Article 11. (Procedures for Calculating Periodic Contributions)

1. For the purposes of calculating the amount of periodic contributions to the Resolution Fund, participating financial institutions report to the Banco Nacional de Angola, by the end of March of each year, the balances relating to the elements that make up the tax base defined in accordance with Article 9 of this Notice, verified at the end of each month of the preceding year.
2. The reporting provided for in the preceding paragraph must be carried out based on a specific form, to be defined in specific regulation.

Article 12. (Payment of Periodic Contributions) Participating financial institutions are subject to paying the periodic contribution within 30 (thirty) days, counted from the date of written notification by the Resolution Fund for this purpose.

CHAPTER IV EXTRAORDINARY CONTRIBUTION

Article 13. (Extraordinary Contribution) Participating financial institutions that are active on the date of adoption by the Banco Nacional de Angola of a resolution measure resulting in a situation of insufficient financial resources of the Resolution Fund are subject to paying an extraordinary contribution to the Resolution Fund.

Article 14. (Method for Calculating the Extraordinary Contribution) For the purposes of Article 305(1) of Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, the total amount of the extraordinary contribution to be made by participating financial institutions must correspond to the difference between the amount of financial support determined by the Banco Nacional de Angola and the own resources of the Resolution Fund calculated as of that determination.

Article 15. (Payment of the Extraordinary Contribution)

1. Extraordinary contributions must be paid in cash, within a maximum period of 10 working days, counted from the date of the decision by the Banco Nacional de Angola, after hearing the Resolution Fund.
2. Without prejudice to the provisions of the preceding paragraph, the extraordinary contribution may be made, 60% in fresh cash and the remaining 40% in securities, with a residual maturity of up to 12 (twelve) months.
3. The extraordinary contribution may be made in phased operations, in a maximum of 2 (two) installments, within the period defined by the Banco Nacional de Angola, after hearing the Resolution Fund.
4. The payment of the extraordinary contribution is made through transfer to the Resolution Fund, by way of performance in kind, of eligible assets used as collateral for monetary policy operations or for emergency liquidity lending operations.

Article 16. (Exemption from Compliance with the Extraordinary Contribution) For the purposes of Article 305(4) of Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, whenever the terms and characteristics of the financial support determined by the Banco Nacional de Angola justify it, participating financial institutions may be exempted, in whole or in part, from their respective cash payment within the period established in paragraph 1 of Article 15 of this regulation, provided that they assume the irrevocable commitment to make the payment to the Resolution Fund, at any time it requests, of the amount of the contribution that has not been settled in cash.

Article 17. (Establishment of Financial Pledge)

1. The assumption of irrevocable payment commitments by participating financial institutions, in accordance with the preceding article, is guaranteed by the establishment of a financial pledge in favor of the Resolution Fund, of low-risk eligible assets used as collateral for monetary policy operations or for emergency liquidity lending operations, through the execution of a contract that grants the Resolution Fund the right of disposal over the securities delivered as collateral.
2. Whenever participating financial institutions assume irrevocable payment commitments, in accordance with the preceding paragraph of this article, the establishment of the financial pledge on the assets delivered as collateral for the obligation to pay extraordinary contributions is carried out within a maximum period of 10 days, counted from the decision exempting immediate payment.
3. The Banco Nacional de Angola establishes, in specific regulation, the draft contract for the financial pledge to be executed between the Resolution Fund and the participating institutions.

Article 18. (Loans to Extraordinary Contributions) The Banco Nacional de Angola may determine that the insufficiency of the Resolution Fund's own resources be temporarily supplemented through the transfer, by way of loan by participating financial institutions, of eligible assets used as collateral for monetary policy operations or for emergency liquidity lending operations, subject to the Resolution Fund's commitment to return those assets, or their equivalent value, within a period and under remuneration conditions to be fixed in specific regulation.

Article 19. (Settlement of Irrevocable Commitments) A participating financial institution that, for any reason, ceases to be a participant in the Resolution Fund must settle any irrevocable payment commitments previously assumed.

CHAPTER V EXEMPTION FROM PAYMENT OF CONTRIBUTIONS

Article 20. (Temporary Exemption from Making a Periodic Contribution)

1. For the purposes of Article 304(5) of Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law, whenever a participating financial institution reports prudential ratios below the minimum regulatory limits or faces the risk of default if it were to pay the contribution, it shall be exempted from paying the said contribution in whole or in part.
2. Whenever a participating financial institution is exempted from making a contribution, in accordance with the preceding paragraph, the Banco Nacional de Angola may determine that the institution make the contribution that was due to it as soon as its default situation has been overcome.

Article 21. (Institution in Merger or Demerger Process)

1. Participating financial institutions that are in a merger or demerger process, duly justified and after hearing the Resolution Fund, are temporarily exempted from paying the contribution due at the time.
2. Upon completion of the merger or demerger process, the participating financial institution must make the outstanding payment to the Resolution Fund within 30 (thirty) days counted from the date of registration of the demerger or merger with the Banco Nacional de Angola.

CHAPTER VI MODE OF PAYMENT OF CONTRIBUTIONS

Article 22. (Mode)

1. The contributions referred to in Articles 4, 8 and 13 may be made to the Resolution Fund through cash transfer, eligible assets used in the form of collateral in monetary policy operations or liquidity lending operations, in accordance with the applicable regulation.
2. Whenever payment is made in a hybrid manner, the non-cash component may not exceed 40% of the total amount of the respective contribution to be paid.
3. At the time of settlement of the contribution, eligible assets must be registered and valued through the establishment of terms of reference, whose valuation margins are determined in accordance with the regulation in force.

Article 23. (Requirements for Determination of Assets) The Banco Nacional de Angola fixes, in specific regulation, the requirements to be observed regarding the assets referred to in Articles 10 and 11 of this Notice, as well as the valuation criteria for those same assets.

CHAPTER VII FINAL PROVISIONS

Article 24. (Return of Contributions) The initial, periodic and extraordinary contributions paid by participating financial institutions are not subject to refund.

Article 25. (Sanctions) Failure to comply with the provisions established in this Notice constitutes an offense provided for and punishable in accordance with Law No. 14/21 of 19 May, the General Regime of Financial Institutions Law.

Article 26. (Doubts and Omissions) Doubts and omissions resulting from the interpretation and application of this Notice are resolved by the Banco Nacional de Angola.

Article 27. (Entry into Force) This Notice enters into force on the date of its publication.

PUBLISH. Luanda, on 04 August 2025.

THE GOVERNOR

MANUEL ANTÓNIO TIAGO DIAS