Regulatory Alerts2018-07-18
Instruction No. 10/2018 of July 19 – Monetary Policy: Mandatory Reserves
The National Bank of Angola issued Instruction No. 10/2018 to update the regulatory framework for calculating and fulfilling mandatory reserve requirements for banking financial institutions, aligning them with the current macroeconomic stability context. The directive establishes the specific account balances constituting the assessment base in national and foreign currencies, defines the arithmetic mean calculation formulas for reserve requirements, and permits deductions for national currency cash balances and credit rights. It mandates daily data transmission via the SSIF system, outlines contingency reporting procedures, and imposes a retroactive monthly penalty of 1% above the highest active interest rate for daily reserve shortfalls or inconsistent reporting.