Regulatory Alerts2019-10-23
Instruction No. 17/2019 of October 24
The National Bank of Angola issued Instruction No. 17/2019 to update the calculation and fulfillment rules for mandatory reserves, aligning them with current macroeconomic stability. The directive establishes specific accounting bases in national and foreign currencies, defines eligibility criteria for Bankita accounts and credit rights, and introduces weighted formulas to determine reserve requirements. It further mandates daily data transmission via the SSIF system, outlines contingency procedures for technical failures, and imposes a 1% monthly penalty on daily shortfalls or inconsistent reporting.
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