Regulatory Alerts1996-07-28
Notice No. 13/1996, of July 29
The National Bank of Angola institutes monetary correction on commercial banks' active and passive operations, linking the correction index to primary market exchange rate variations over the preceding thirty days. Demand deposits will be corrected monthly based on average balances and credited by the last business day, while time deposits receive correction every thirty days alongside a minimum 0.5 percent monthly interest rate. This regulatory notice, issued by Governor Sebastião Bastos Lavrador on July 29, 1996, aligns banking rates with monetary policy objectives and takes effect on August 1, 1996.
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