Guideline No. 18/2020 of November 6, Financial System: Metal Coin Deposit Operations at the National Bank of Angola

GUIDELINE NO. 18/2020 of November 6
SUBJECT: FINANCIAL SYSTEM

• Metal Coin Deposit Operations
  at the National Bank of Angola

Where it is necessary to define rules and procedures regarding metal coin deposit operations at the National Bank of Angola; Pursuant to the combined provisions of Article 7, paragraph 1, item f) of Article 21, and item d) of paragraph 1 of Article 51, both of Law No. 16/10, of July 15 - Law of the National Bank of Angola, combined with Article 64 of Law No. 12/15, of June 17 – Law of the Bases of Financial Institutions.

I DETERMINE:

1. Object and Scope
   1.1 This Guideline defines the rules and conditions for carrying out metal coin deposits at the Treasury of the National Bank of Angola, its Regional Delegations, and Value Custody Services.
   1.2 This Guideline is applicable to Banking Financial Institutions, hereinafter abbreviated as “Institutions”.

2. General Rules
   2.1. Whenever Institutions wish to deposit metal coins at the locations identified above, they must communicate with a 24 (twenty-four) hour advance notice, on the Pre-Notifications Management Portal.
   2.2. Metal coin deposit operations must have a maximum limit of Kz 5,000,000.00 (five million Kwanzas) and may be carried out 1 (one) time per week, from 8:30 to 13:30.

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3. Procedures for Packaging Metal Coins
   3.1. Metal coins must be deposited in bags with identification of the denomination and its respective series.
   3.2. Whenever Institutions wish to withdraw metal coins from circulation, they must package the said coins in bags, which must indicate the series, quantity, denomination, and identification of the depositing Institution.
   3.3. The bags must consist of 500 (five hundred) coins, according to the following table:

Denomination in Kz	Quantity of coins/Bag	Unit weight of coin (g)	Weight of bag (Kg)	Financial Value in Kz
0.5	500	3.8	1.9	250
1	500	5	2.5	500
5	500	6.8	3.4	2,500.00
10	500	8.4	4.2	5,000.00
20	500	11.5	5.75	10,000.00
50	500	7.5	3.75	25,000.00
100	500	8.5	4.25	50,000.00

4. Procedures for Verification of Authenticity of Metal Coins
   4.1. Without prejudice to the provisions of the previous number of this Guideline, for the purposes of verifying authenticity and conditions for the continued circulation of metal coins to be deposited, Institutions must proceed to packaging in a segregated manner, according to their condition, namely:
   a) Fit; b) Unfit for circulation; and, c) Suspected of legitimacy.
   4.2. For the purposes of the provision in number 3 of this Guideline, the National Bank of Angola issues a discharge of the values received through a specific document for that purpose.

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4.3. In case of irregularities detected upon receipt of the metal coin volumes, the National Bank of Angola and the aforementioned entities may return the entire volumes, whenever the detected irregularities are not remedied.

5. Deposit of Metal Coins Unfit for Circulation
   5.1 For the purposes of the provision in item b) of subpoint 4.1 of this Guideline, metal coins are considered unfit for circulation if they are genuine but present defects or whose technical and identification characteristics (corrosion, dirt, perforation, mutilation, dimensions, weight, color, or edge) have been altered, due to a relatively long period of circulation or by accident.
   5.2 After the deposit of coins unfit for circulation, the National Bank of Angola must credit the corresponding value to the account of the depositing Institution on the date of its realization.

6. Financial Relevance and Regularization of Operations
   6.1. Whenever discrepancies are detected during the verification of deposits between the value delivered by the Institution and the value verified, resulting in an amount lower or higher than the delivered amount, the National Bank of Angola proceeds with daily regularization in the account of the depositing Institution.
   6.2. For the purposes of the provision in the previous subpoint, at the end of the day, information regarding the cash differences ascertained and any financial settlements carried out is sent to the Institution, through the Real-Time Payment System (SPTR), and this information may be consulted and extracted by the respective Institution.

7. Doubts and Omissions
   Doubts and omissions resulting from the interpretation and application of this Guideline are resolved by the National Bank of Angola.

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8. Revocation
   All regulation contrary to the provisions of this Guideline is hereby revoked.

9. Entry into Force
   This Guideline enters into force on the date of its publication.

PUBLISH.
Luanda, on November 6, 2020.

THE GOVERNOR
JOSÉ DE LIMA MASSANO