Circular No. 02/EMO/2023, of May 31 - Approval of the Mandatory Reserves Incidence Rate and Revocation of Circular No. 01/EMO/2023, of January 25

Bank of Mozambique
Administration

MONETARY STABILITY DEPARTMENT
CIRCULAR NO. 02/EMO/2023

Maputo, May 31, 2023

SUBJECT: APPROVAL OF THE MANDATORY RESERVES INCIDENCE RATE AND REVOCATION OF CIRCULAR NO. 01/EMO/2023, OF JANUARY 25

Pursuant to Article 6 of the Regulation on the Calculation and Establishment of Mandatory Reserves, approved by Notice No. 1/GBM/2023, of April 26, the Bank of Mozambique sets:

1. The mandatory reserves coefficient, applicable to the incidence base in national currency, at 39.00%.

2. The mandatory reserves coefficient, applicable to the incidence base in foreign currency, at 39.50%.

This Circular enters into force from the mandatory reserves establishment period beginning on May 31, 2023, and revokes Circular No. 01/EMO/2023, of January 25, and all provisions contrary thereto.

Any doubts arising from the interpretation and application of this Circular must be submitted to the Markets and Reserves Management Department of the Bank of Mozambique.

BANK OF MOZAMBIQUE
Monetary Stability Department

Silvina de Abreu
Silvina de Abreu
Administrator