Regulatory Alerts2024-09-26
Circular Letter No. 04/2024, dated September 26
The Markets Department requires banking financial institutions to report the 10% foreign exchange position limit based on daily FX transactions executed by end-of-day. This clarification to Circular Letter No. 13/2022 ensures full compliance with position limits and enhances foreign exchange market dynamism. The directive takes effect upon publication, streamlining daily reporting obligations for regulated entities.
CIRCULAR LETTER NO. 04/2024 SUBJECT: FINANCIAL SYSTEM
- Foreign Exchange Position In order to ensure greater dynamism in the Foreign Exchange Market and clarify full compliance with the foreign exchange position limit, as stipulated in Circular Letter No. 13/2022, dated May 4, regarding Foreign Exchange Position, this Circular Letter serves to inform Banking Financial Institutions that the 10% reporting of the Foreign Exchange Position, established in the aforementioned regulatory instrument, pertains to daily foreign exchange transactions carried out until the end of the business day. This Circular Letter takes effect on the date of its publication. Luanda, September 26, 2024 MARKETS DEPARTMENT
Tânia Patrícia de Oliveira Mendes Lopes /Director/
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