Regulatory Alerts2023-03-31
Directive No. 06/2023 of March 30
The National Bank of Angola's Markets Department issues Directive No. 06/2023 to update the calculation and compliance framework for mandatory reserves, establishing a 17% coefficient for national currency and 22% for foreign currency applied to biweekly average balances. The directive designates specific daily account balances as eligible, permits up to 20% daily mobilization and excesses exempt from custody fees, and outlines procedures for deducting agricultural, real sector, and housing credits following validation by the Credit Monitoring Office. It mandates that banks consider deposits from April 3 to 14, 2023, with full compliance taking effect on April 17, 2023, while simultaneously revoking Directive No. 11/MD/2022 and granting the National Bank of Angola authority to resolve interpretative ambiguities.