Regulatory Alerts2020-08-03
Instruction No. 14/2020 of August 4 on the Custody Fee Applicable to Excess Reserves of Commercial Banks Deposited at the National Bank of Angola
The National Bank of Angola issued Instruction No. 14/2020 to establish a daily 0.1% custody fee on commercial banks' excess reserves exceeding Kz 3 billion, aiming to stimulate financial intermediation and broader economic activity. The fee applies to the net balance of free reserves deposited at the central bank, calculated daily and automatically debited from banks' SPTR accounts on the following business day. All interpretative doubts regarding this fee framework are resolved by the National Bank of Angola, with the regulation taking effect on August 10, 2020.
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