Regulatory Alerts2019-03-14
Notice No. 03/GBM/2019, January 29 - Intraday Credit Regulation
The Bank of Mozambique issued Notice No. 03/GBM/2019 to establish the Intraday Credit Regulation, which governs intraday lending operations and repayment procedures for credit institutions participating in the national payment system. The regulation mandates that eligible institutions secure intraday loans against collateral, with automatic or requested disbursements settled by the end of the business day, while defining conversion to overnight credit and definitive collateral transfer upon default. It further specifies applicable discount rates, penalty interest adjustments for repeated non-repayment, suspension conditions, and sanctions under the National Payments System Law.
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