Regulatory Alerts2023-11-27
Directive No. 11/2023, dated November 24
The National Bank of Angola, acting through its Markets Department and Governor, sets the Basic Interest Rate at 18.00% per annum, fixes the Permanent Liquidity Lending Facility rate at 18.5%, and establishes the Permanent Liquidity Absorption Facility rate at 17.5%. This Directive revokes prior rates under Directive No. 08/DME/23, implements the Monetary Policy Committee's November decisions, and takes immediate effect. Failure to comply constitutes a punishable offense under Law No. 14/21, with all interpretive disputes resolved by the Bank.
DIRECTIVE NO. 11/2023 SOURCE: Markets Department (DME) DATE 24/11/2023 SUBJECT: FINANCIAL SYSTEM
- Basic Interest Rate (BNA Rate)
- Permanent Liquidity Lending Facility Rate (FCO)
- Permanent Liquidity Absorption Facility Rate
Whereas it is necessary to define the Basic Interest Rate of the BNA and the Interest Rates for the Permanent Liquidity Lending and Absorption Facilities, regulated under Notice No. 11/12 and Notice No. 12/12, both dated April 02; In accordance with the decisions of the one hundred and fourteenth ordinary session of the Monetary Policy Committee (MPC), held on November 20 and 21, 2023; This Directive hereby establishes the following:
- The Basic Interest Rate of the BNA (BNA Rate) is set at 18.00% (eighteen percent) per annum.
- The Interest Rate of the Permanent Liquidity Lending Facility (FCO) is set at 18.5% (eighteen point five percent) per annum.
- The Interest Rate of the Permanent Liquidity Absorption Facility is set at 17.5% (seventeen point five percent) per annum.
- Directive No. 08/DME/23, dated July 19, concerning the Basic Interest Rate and Permanent Liquidity Lending and Absorption Facilities, is hereby revoked.
GOVERNOR
DIRECTIVE NO. 11/2023 Page 2 of 2 5. Any doubts and omissions arising from the interpretation and application of this Directive shall be resolved by the National Bank of Angola. 6. Non-compliance with the provisions of this Directive constitutes an offense provided for and punishable under Law No. 14/21, dated May 19, the General Regime of Financial Institutions Law. 7. This Directive enters into force immediately.