Notice No. 16/2022 of September 7 - Establishing the Liquidity Assistance Mechanism in the Real-Time Payment System

PUBLISHED IN THE OFFICIAL GAZETTE, FIRST SERIES, NO. 170, OF SEPTEMBER 7, 2022 NOTICE NO. 16/2022 SUBJECT: FINANCIAL SYSTEM

• Liquidity Assistance Mechanism in the Real-Time Payment System
• Access Rules and Procedures

Whereas it is necessary to ensure the operational availability of the Angola Payment System, continuously throughout the 7 (seven) days of the week, as well as to guarantee the settlement of operations processed in D+0 via the Real-Time Payment System; Whereas it is necessary to define the rules and procedures for the operation of the Liquidity Assistance Mechanism in the Real-Time Payment System, aiming to ensure the operational availability of the Angola Payment System on business and non-business days; Pursuant to the provisions of Article 36 of Law No. 14/21, dated May 19, the General Regime of Financial Institutions Law, Article 6 of Law No. 40/20, dated December 16, the Angola Payment System Law, and paragraph 1 of Article 98 of Law No. 24/21, dated October 18, the Central Bank of Angola Law. I HEREBY DETERMINE:

Article 1. (Object) This Notice establishes the Liquidity Assistance Mechanism in the Real-Time Payment System.

CONTINUATION OF NOTICE NO. 16/2022 Page 2 of 3 Article 2. (Eligibility) Eligible for liquidity assistance from the Central Bank of Angola, for settlement purposes, are the Banking Financial Institutions participating in the Angola Payment System, as provided in Law No. 40/20, dated December 16, the Angola Payment System Law.

Article 3. (Rules and Procedures)

1. The settlement of clearing files must occur using the balances available in Participants' Settlement and Guarantee Accounts, with Banking Financial Institutions required to ensure the maintenance of minimum balances in the Guarantee Account.
2. Whenever a Participant's Guarantee Account experiences insufficient resources, the Liquidity Assistance Mechanism in the Real-Time Payment System provides for: a) The granting of Liquidity to the Banking Financial Institution with insufficient funds in its guarantee account, up to the pending settlement amount; and, b) The creation of an intraday operation in favor of the borrowing Participant, on the granted liquidity amount, at the Permanent Liquidity Granting Facility rate.
3. For the purposes of the preceding paragraph, resources granted by the Central Bank of Angola through the intraday operation must be immediately reverted to the account of the Liquidity Assistance Mechanism in the Real-Time Payment System, with the borrowing Participant responsible for settling the aforementioned granted resources.
4. Whenever a Participant fails to settle the intraday operation, it shall automatically be converted into an Overnight Permanent Liquidity Granting Facility (FCO) operation, in accordance with current regulations.
5. Whenever liquidity insufficiency occurs during weekends or holidays, the intraday operation shall be established on the following business day with accrued interest incorporated, considering the resource granting period.
6. Whenever there is an insufficiency of eligible securities to establish the intraday operation by the borrowing Participant, a 1% penalty is applied to the granted amount.
7. Banking Financial Institutions will be promptly informed whenever the Liquidity Assistance Mechanism in the Real-Time Payment System is activated to cover pending clearing files or to execute the intraday operation.

CONTINUATION OF NOTICE NO. 16/2022 Page 3 of 3 Article 4. (Sanctions) Violation of the mandatory provisions of this Notice constitutes an offense punishable under Law No. 14/21, dated May 19, the General Regime of Financial Institutions Law. Article 5. (Doubts and Omissions) Doubts and omissions arising from the interpretation and application of this Notice are resolved by the Central Bank of Angola. Article 6. (Entry into Force) This Notice enters into force 30 (thirty) days after its publication. PUBLISHED. Luanda, September 1, 2022. THE GOVERNOR JOSÉ DE LIMA MASSANO