Regulatory Alerts2021-11-22
Directive No. 13/DSB/DRO of 2021
The National Bank of Angola’s Banking Supervision and Financial System Regulation Departments issue this Directive to standardize the credit ratings of eligible external agencies—Fitch Ratings, Moody’s Investor Services, and S&P Global Ratings Limited—and map them to six prudential credit quality grades. It establishes Annex I, which defines the reference meaning of each rating category based on financial obligation capacity and credit risk exposure, and Annex II, which provides the precise mapping between each agency’s rating scales (long-term, short-term, insurers, derivatives, and medium-sized enterprises) and the designated credit quality grades. The Directive resolves interpretative doubts within the Bank, enters into force upon publication, and directly governs regulatory capital calculations for credit risk and counterparty credit risk under Instruction No. 15/21.