Regulatory Alerts2015-04-20
Notice 08-2015 of April 20, 2015 - Angola Payment System: Gross and Real-Time Transfers
The Bank of Angola issued Notice 08-2015 to mandate the gross settlement of interbank fund transfers within the Real-Time Gross Settlement System (SPTR). This requirement applies to all individual interbank transfers destined for bank clients that meet or exceed the threshold defined in specific regulations. The notice explicitly excludes checks from this mandate and establishes a five-day entry into force period following its publication.
Published in the Official Gazette, I Series, No. 53, of April 20
NOTICE No. 08/2015 SUBJECT: ANGOLA PAYMENT SYSTEM
- Gross and Real-Time Transfers
Considering the need to clarify the definition of a value from which interbank fund transfers are mandatorily settled on a gross basis in the Real-Time Gross Settlement System - SPTR;
Under the combined provisions of Article 7 of Law No. 5/05, of July 29 - Payment System Law, and Article 51 of Law No. 16/10, of July 15 - Bank of Angola Law.
I DETERMINE:
Article 1. (Object) This Notice establishes the conditions for the mandatory settlement of interbank transfers in the Real-Time Gross Settlement System - SPTR.
CONTINUATION OF NOTICE No. 08/2015 Page 2 of 2
Article 2. (Settlement of fund transfers in the SPTR) All individual interbank fund transfers, with a bank client as the recipient and of an amount equal to or greater than the value defined in specific regulation, are mandatorily settled on a gross basis (transaction by transaction) in the SPTR.
Article 3. (Cheques) The provisions of this Notice do not apply to cheques used in the Angola Payment System.
Article 4. (Doubts and omissions) Any doubts and omissions arising in the interpretation and application of this Notice are resolved by the Bank of Angola.
Article 5. (Entry into force) This Notice enters into force 5 (five) days after the date of its publication.
PUBLISH. Luanda, April 13, 2015.
THE GOVERNOR JOSÉ PEDRO DE MORAIS JÚNIOR