Regulatory Alerts2020-07-16
Instruction No. 13/2020 of July 17 on the Functioning of the Credit Risk Information Center
The National Bank of Angola issued Instruction No. 13/2020 to standardize the functioning and reporting procedures of the Credit Risk Information Center (CIRC) for all financial institutions. The directive mandates monthly electronic reporting of actual and potential credit liabilities, check returns, and detailed borrower/guarantor data, while establishing strict timelines for information submission, claims processing, and historical archiving. It further guarantees public access to credit records, imposes penalties for non-compliance, and repeals the previous 2010 operating rules to enhance transparency and risk management across the financial sector.
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