Regulatory Alerts2017-11-30
Instruction No. 06-2017 of December 1 on Monetary Policy: Mandatory Reserves
The National Bank of Angola issued Instruction No. 06-2017 to update the calculation and compliance rules for mandatory reserves, aiming to enhance monetary policy efficiency within the macroeconomic stability framework. The directive establishes specific tax bases for national and foreign currency reserves, assigns distinct reserve coefficients ranging from 15% to 100% based on account types and government entities, and defines precise weekly calculation formulas and eligible assets. It further mandates daily data transmission via the SSIF system, outlines contingency procedures, and imposes retroactive penalties for non-compliance or inconsistent reporting.
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