Regulatory Alerts1993-04-20
Instruction No. 2/93: Organization of Foreign Bank Branches
Issued by the Governor of the National Bank of Angola, this Instruction mandates that foreign bank branches limit immobilized assets to 70% of their own funds, calculated according to Notice 5/92. It restricts the immediate deployment of initial branch capital to settling parent-institution financing for facilities and equipment, or acquiring foreign exchange up to 50% of the constituted capital at the establishment date's rate. The directive confirms that minimum capital rules from Notice 5/93 apply to foreign branches and conditions capital licensing on documented sales of foreign currency to the Central Bank.
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