Regulatory Alerts1995-06-23
Instruction No. 1/95: Monetary Policy - Mandatory Reserves
The Banco Nacional de Angola issued Instruction No. 1/95 to establish the mandatory reserve regime for all deposit-taking financial institutions in Angola, formally revoking Instruction No. 6/92. The directive mandates a 20% reserve coefficient calculated on the arithmetic mean of weekly demand, time, and certified check balances in national currency, requiring institutions to maintain daily reserve accounts at the central bank. It specifies that only voluntary excess balances earn interest, imposes penalties equal to double the highest active interest rate for any reserve shortfall, and obligates institutions to submit authenticated monthly compliance reports by the 25th of the preceding month.
Share