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2020-11-05

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

The National Bank of Angola issued Guideline No. 18/2020 to establish rules and procedures for metal coin deposit operations at its Treasury, Regional Delegations, and Value Custody Services. Banking financial institutions must submit advance 24-hour notifications via the Pre-Notifications Management Portal, adhere to a maximum deposit limit of Kz 5 million per weekly transaction, and package coins in standardized 500-coin bags with clear denomination and series labeling. The guideline mandates segregated packaging for fit, unfit, and suspected coins, outlines authentication verification and daily account regularization processes, and grants the National Bank of Angola final authority to resolve interpretive doubts or omissions.

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

  • Metal Coin Deposit Operations at the National Bank of Angola

Whereas 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(f) of Article 21, and paragraph 1(d) of Article 51, both of Law No. 16/10 of July 15 - National Bank of Angola Law, combined with Article 64 of Law No. 12/15 of June 17 - Framework Law for Financial Institutions,

I DETERMINE:

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

  2. General Rules 2.1 Whenever Institutions wish to deposit metal coins at the aforementioned locations, they must communicate in advance 24 (twenty-four) hours via 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 once per week, from 8:30 am to 1:30 pm.

CONTINUATION OF GUIDELINE NO. 18/2020 Page 2 of 4

  1. Procedures for Packaging Metal Coins 3.1 Metal coins must be deposited in bags with identification of the denomination and 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 (Kz) | Quantity of coins/bag | Unit weight of coin (g) | Weight of bag (kg) | Financial Value (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

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

CONTINUATION OF GUIDELINE NO. 18/2020 Page 3 of 4

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

  1. Deposit of Metal Coins Unfit for Circulation 5.1 For the purposes of paragraph (b) of subpoint 4.1 of this Guideline, metal coins deemed unfit for circulation are genuine coins that exhibit defects or whose technical and identification characteristics (corrosion, dirt, perforation, mutilation, dimensions, weight, color, or edge) have been altered due to a relatively long circulation period or by accident. 5.2 After depositing coins unfit for circulation, the National Bank of Angola must credit the corresponding value to the depositing Institution's account on the date of the transaction.

  2. 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 verified value, resulting in an amount lower or higher than the delivered amount, the National Bank of Angola proceeds with daily regularization in the depositing Institution's account. 6.2 For purposes of the preceding subpoint, at day close, information regarding the calculated cash differences and any financial settlements carried out is sent to the Institution via the Real-Time Payment System (SPTR), and this information may be consulted and extracted by the respective Institution.

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

CONTINUATION OF GUIDELINE NO. 18/2020 Page 4 of 4

  1. Revocation All regulations contrary to the provisions of this Guideline are hereby revoked.

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

PUBLISH. Luanda, November 6, 2020. THE GOVERNOR JOSÉ DE LIMA MASSANO

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