Regulatory Alerts2015-12-31
Notice No. 09/GBM/2015, December 31 – Amendment to the Regulation on the Calculation and Establishment of Mandatory Reserves
The Bank of Mozambique issued Notices No. 9/GBM/2015 and No. 10/GBM/2015 on December 31, 2015, to update the incidence rate of mandatory reserves and align interbank foreign exchange market mechanisms with current economic conditions. Notice No. 9/GBM/2015 amends Articles 3, 10, and 11 of the 2012 Regulation on Mandatory Reserves, establishing a blocked account regime for institutions failing to meet reserve requirements and waiving exemption periods for early market participation. Notice No. 10/GBM/2015 approves the attached Interbank Foreign Exchange Market Regulation, setting membership criteria such as authorized banking status, Meticalnet system access, technological compliance, solvency ratios, transaction volume thresholds, and adherence to the Interbank Markets Code of Conduct.