Regulatory Alerts1992-08-12
Instruction No. 6/92: Monetary Policy - Mandatory Reserves Regulation
The Governor of the National Bank of Angola issued Instruction No. 6/92 to establish the mandatory reserve regime for all authorized deposit-taking financial institutions operating in Angola. The directive mandates a 20% reserve coefficient applied to national currency demand and time deposits, calculated using specific arithmetic mean formulas based on Friday positions and daily balances. It further outlines remuneration for voluntary excess deposits, imposes penalties at double the highest active interest rate for reserve shortfalls, and requires institutions to submit authenticated compliance tables to the Emission and Credit Directorate by the fifth business day of each month.
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