Regulatory Alerts2021-02-12
Notice 01/2021 (February 12) on the Credit Risk Information Center
The Banco Nacional de Angola issued Notice 01/2021 to expand the reporting obligations for financial institutions and companies regarding their credit liabilities to the Credit Risk Information Center (CIRC). The regulation defines key terms, specifies participating entities such as banking and non-banking financial institutions, and mandates the reporting of actual and potential credit positions, second-time insufficient funds checks, and accepted guarantees. It establishes data confidentiality rules, access procedures for clients, cost-sharing mechanisms, and penalties for non-compliance, with the Notice taking effect upon publication.
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