Regulatory Alerts2024-06-18
Directive No. 04/2024 on Requirements for the Calculation and Compliance of Mandatory Reserves
The National Bank of Angola’s Markets Department issues Directive No. 04/2024 to update mandatory reserve calculation and compliance requirements for banking financial institutions, aligning them with the current macroeconomic framework. The directive establishes a 21% reserve coefficient for national currency balances and 22% for foreign currency, specifies eligible daily account balances, details the deduction of credit rights from agricultural, real sector, and housing loans, and suspends credits exceeding 180 days of non-compliance. Effective July 1, 2024, the directive supersedes Directive No. 01/24 and mandates that banks calculate their reserve bases based on May 1, 2024 deposits.
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