Regulatory Alerts1995-06-23
Notice No. 04/95: Monetary Policy - Bank Reserves Remuneration
The Governor of the Central Bank of Angola issued Notice No. 04/95 to establish the remuneration framework for voluntary reserves held by financial institutions at the central bank. The directive mandates that interest on these deposits be calculated at 0.5% above each institution's respective demand deposit rate, with tiered rates calculated via a weighted average, and requires monthly crediting by the 10th business day of the following month. The Banking Supervision Directorate is tasked with verifying declared rates, and this notice immediately supersedes Instruction No. 3/94 of April 22, 1994.
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