Regulatory Alerts2023-05-31
Circular No. 02/EMO/2023, of May 31 - Approval of the Mandatory Reserves Incidence Rate and Revocation of Circular No. 01/EMO/2023, of January 25
The Bank of Mozambique's Monetary Stability Department issued Circular No. 02/EMO/2023 to set the mandatory reserves coefficient at 39.00% for national currency and 39.50% for foreign currency. The directive takes effect for the reserve establishment period beginning May 31, 2023, and simultaneously revokes Circular No. 01/EMO/2023 and all contrary provisions. Any interpretation or application queries must be submitted to the Bank's Markets and Reserves Management Department.
Bank of Mozambique Administration
MONETARY STABILITY DEPARTMENT CIRCULAR NO. 02/EMO/2023
Maputo, May 31, 2023
SUBJECT: APPROVAL OF THE MANDATORY RESERVES INCIDENCE RATE AND REVOCATION OF CIRCULAR NO. 01/EMO/2023, OF JANUARY 25
Pursuant to Article 6 of the Regulation on the Calculation and Establishment of Mandatory Reserves, approved by Notice No. 1/GBM/2023, of April 26, the Bank of Mozambique sets:
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The mandatory reserves coefficient, applicable to the incidence base in national currency, at 39.00%.
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The mandatory reserves coefficient, applicable to the incidence base in foreign currency, at 39.50%.
This Circular enters into force from the mandatory reserves establishment period beginning on May 31, 2023, and revokes Circular No. 01/EMO/2023, of January 25, and all provisions contrary thereto.
Any doubts arising from the interpretation and application of this Circular must be submitted to the Markets and Reserves Management Department of the Bank of Mozambique.
BANK OF MOZAMBIQUE Monetary Stability Department
Silvina de Abreu Silvina de Abreu Administrator