Regulatory Alerts1995-06-20
Notice No. 03/95
The Banco Nacional de Angola issued Notice No. 03/95 on June 20, 1995, to align monetary policy rates by liberalizing deposit remuneration while preserving existing time deposit terms subject to a ¾ rate penalty for early withdrawal after half the agreed term. The central bank set annual lending rates of 152% to 160% for treasury operations and 152% for secured credit, requiring periodic inflation-linked adjustments and permitting financial institutions to freely price active operations and immobilization fees for unused credits. The directive further mandates a 10% annual penalty on overdue debts, repeals Notice No. 6/94, and takes immediate effect.
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