Regulatory Alerts2017-05-30
Directive No. 01-DMA-2017 of May 30, 2017
The Department of Asset Markets of the National Bank of Angola issued Directive No. 01-DMA-2017 to adjust interest rates for permanent liquidity facilities following the Monetary Policy Committee's decision on May 30, 2017. The directive reduces the seven-day Liquidity Absorption Facility rate from 7.25% to 5.25% annually, while maintaining the Liquidity Lending Facility rate at 20.00% and the Overnight Liquidity Absorption Facility rate at 0.00%. This directive entered into force immediately and revoked Directive No. 05/DMA/2016.
Whereas it is necessary to adjust the interest rates for the Permanent Facilities for Lending and Absorption of Liquidity, regulated under Notice No. 11/2011 of October 20;
In accordance with the decision of the fifty-fourth ordinary session of the Monetary Policy Committee, held on May 30, 2017;
This Directive serves to establish the following;
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The Interest Rate of the Permanent Liquidity Lending Facility (FCO) remains at 20.00% per annum.
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The Interest Rate of the Permanent Seven-Day Liquidity Absorption Facility (FAL7) is reduced by 2 (two) percentage points, moving from 7.25% per annum to 5.25% per annum.
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The Interest Rate of the Permanent Overnight Liquidity Absorption Facility (FAO) remains at 0.00% per annum.
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The interest rates for the Permanent Facilities for Lending and Absorption of Liquidity are subject to periodic review by the National Bank of Angola.
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Doubts and omissions arising from the interpretation and application of this Directive are clarified by the Department of Asset Markets.
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This Directive enters into force immediately.
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Directive No. 05/DMA/2016 of June 30 is hereby revoked.
DEPARTMENT OF ASSET MARKETS
Maria Cândida Bernardete de Jesus Sambingo
DIRECTIVE No 01/DMA/2017 ORIGIN: DEPARTMENT OF ASSET MARKETS DATE 30/05/2017 SUBJECT: PERMANENT FACILITIES FOR LENDING (FCO) AND ABSORPTION OF LIQUIDITY (FAO)
- INTEREST RATES FOR OPERATIONS