Regulatory Alerts2018-05-24
Instruction No. 05/2018 of May 25 on Monetary Policy - Mandatory Reserves
The Governor of the Bank of Angola issued Instruction No. 05/2018 to update the calculation and compliance rules for mandatory reserves, aiming to enhance monetary policy efficiency. The directive establishes specific incidence bases, reserve coefficients, and deduction mechanisms for both national and foreign currencies, while introducing strict weekly reporting requirements and financial penalties for non-compliance. This regulation supersedes previous instructions and mandates that financial institutions maintain reserves through designated accounts and eligible assets as defined in the updated CONTIF ADJUSTED chart of accounts.
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