Banco Nacional de Angola Notice No. 01/2010 of October 4

Banco Nacional de Angola

NOTICE NO. 01/2010 of October 4

OFFICE OF THE GOVERNOR

Considering the need to centralize information regarding risk in the granting and application of credit, and to establish a functioning system for the Credit Information and Risk Center (CIRC), thereby conferring greater reliability and consequent incentive for its use by Financial Institutions, in accordance with the combined provisions of letters a) and b) of Article 21 of Law No. 13/05 of September 30;

In accordance with the combined provisions of Article 21 of Law No. 16/10 of July 15 - the Banco Nacional de Angola Law, and Article 64 of Law No. 13/05 of September 30 - the Financial Institutions Law;

In the exercise of the competence conferred upon me by Article 51 of the Banco Nacional de Angola Law;

I DETERMINE:

Article 1 (Subject Matter)

The Credit Information and Risk Center (CIRC) service has the following objectives:

a) to centralize information regarding credit operations, potential liabilities, and their risks in any form or modality granted by Financial Institutions;

b) to provide information that assists in the assessment of credit granting risks by Financial Institutions.

Article 2 (Scope)

1. This Notice applies to all Financial Institutions that exercise credit functions and are subject to the supervision of the Banco Nacional de Angola, namely:

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Banco Nacional de Angola

OFFICE OF THE GOVERNOR

a) Banks; b) Credit cooperatives; c) Financial factoring companies; d) Financial leasing companies; e) Micro-credit companies; f) Other companies qualified as such by Law.

2. Branches in Angola of Financial Institutions with headquarters abroad are also subject to the scope of this Notice.

Article 3 (Definitions)

1. The Credit Information and Risk Center (CIRC) is a database managed by the Banco Nacional de Angola, containing information provided by Financial Institutions regarding credit operations, potential liabilities, and their risks, in any modality, benefiting natural or legal persons, whether resident or non-resident.

2. Participating entities are those referred to in Article 2 of this Notice.

3. Potential liabilities, for the purposes of this Notice, consist of operations in which a financial institution may potentially be bound to obligations of third parties.

4. Effective liabilities are the credit responsibilities assumed by any natural or legal person towards participating entities.

5. Credit risk is the probability that Financial Institutions may suffer losses, on their own account or for third parties, due to the default by their clients and/or guarantors (sureties and/or endorsers) arising from loan agreements, credits in general, discounts, provided guarantees, securities, insurance, other financial intermediation transactions, as well as all other financial instruments permitted by Law.

Article 4 (Place of Operation)

The Credit Information and Risk Center is ensured by the Banco Nacional de Angola and operates within its premises.

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Banco Nacional de Angola

OFFICE OF THE GOVERNOR

Article 5 (Covered Operations)

Participating entities must provide the Banco Nacional de Angola, under terms established by it, with the required information regarding credit operations, unpaid checks, potential liabilities, and their risks, assumed by any natural or legal person, whether resident or non-resident.

Article 6 (Information Collection)

Financial Institutions must provide the Banco Nacional de Angola, via electronic communication, with informational elements to be defined by the Banco Nacional de Angola in the CIRC operating regulations.

Article 7 (Information Responsibility)

The information contained in the Credit Information and Risk Center is entirely the responsibility of the Financial Institutions that provided it, with these institutions exclusively responsible for any eventual alteration or correction.

Information provided by the Banco Nacional de Angola must be intended exclusively for the requesting institution, and its total or partial transmission to third parties is prohibited, unless these are legally authorized for that purpose.

Article 8 (Use of Information)

Subject to the following paragraph, the information referred to in this Notice may not be used for purposes other than those of the CIRC, the supervision of institutions subject to it, or statistical preparation, as a complement to the elements referred to in letter f) of Article 21 of the Banco Nacional de Angola Law, and its dissemination may in no case be conducted in a manner likely to violate banking secrecy protecting the operations in question.

Information contained in the CIRC may be used within the framework of cooperation provided for in Article 62 of Law No. 13/05 of September 30.

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Banco Nacional de Angola

OFFICE OF THE GOVERNOR

Article 9 (Access to Information)

1. Participating Financial Institutions have access to CIRC information via electronic communication established by the Banco Nacional de Angola.

2. Natural and legal persons have free access to their own credit information registered in the Credit Information and Risk Center.

3. The Banco Nacional de Angola, through a specific instrument, establishes the conditions and terms for accessing CIRC information.

Article 10 (Confidentiality)

1. Information contained in the Credit Information and Risk Center is subject to the duty of secrecy, as per Law.

2. Information provided by the CIRC to Financial Institutions must not contain the name of the Financial Institution that granted the credit.

Article 11 (Cost Participation)

The Banco Nacional de Angola may fix and charge a reciprocal commission for the information it provides to Financial Institutions.

Article 12 (Infringements)

1. Failure to send updated information constitutes an infringement, and participating institutions are barred from accessing CIRC information.

In addition to the sanctions provided for in Article 131, letters e) and g), of Law No. 13/05 of September 30, infringements of the provisions of this Notice, its respective regulation, and other complementary instructions are punishable under civil and penal laws.

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Banco Nacional de Angola

OFFICE OF THE GOVERNOR

Article 13 (Repealing Clause)

All provisions contrary to this Notice are hereby repealed, notably Notice No. 2/01 of November 23.

Article 14 (Entry into Force)

This Notice enters into force 30 (thirty) days after the date of its publication.

PUBLISH

Luanda, October 4, 2010

THE GOVERNOR

(Signature)

ABRAHÃO PIO DOS SANTOS GOURGEL