Regulatory Alerts2014-12-17
Notice No. 12/2014 of 17 December on the Establishment of Provisions
The Bank of Angola issued Notice No. 12/2014 to regulate the establishment of provisions by financial institutions under its supervision, requiring implementation from January 1, 2016. The notice defines key terms such as parent companies and risk positions, specifies eligible risk mitigants, and outlines rules for credit restructuring and additional provisions. It mandates application on both an individual and consolidated basis and establishes sanctions for non-compliance with these prudential requirements.
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