Regulatory Alerts1995-01-01
Directive No. 4/DSB/95: Monetary Readjustment for Financial Institutions
The Directorate of Banking Supervision mandates that all financial institutions convert their New Kwanza balances to the newly created Adjusted Kwanza (KZR) at a 1,000:1 ratio effective July 1, 1995. Institutions must close their NKZ records on June 30 using newly established monetary readjustment accounts, transfer the National Treasury balance to the BNA, and reopen all accounts in KZR through the conversion position account. The directive further requires immediate conversion of transit values, stamping documents with "Adjusted Kwanza", and archiving residual amounts while rounding all figures to the lower unit.
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