Regulatory Alerts2024-06-13
Instruction No. 06/2024 of June 12 on Financial System - Mandatory Reserves
The National Bank of Angola issues Instruction No. 06/2024 to update the calculation and compliance rules for mandatory reserves held by supervised banking financial institutions. It establishes national and foreign currency tax bases based on specific deposit accounts, defines monthly calculation frequencies, and mandates the use of prescribed formulas incorporating reserve coefficients and daily credit balances. The directive further outlines compliance procedures, exchange rate conversions, penalty sanctions for shortfalls, and data transmission protocols via the SSIF system.
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