Regulatory Alerts2012-03-28
Notice No. 03/2012 of March 28 on the Regulation of Credit Granting and Classification by Financial Institutions
The Bank of Angola issued Notice No. 03/2012 to regulate the classification, provisioning, and granting of credit operations by authorized financial institutions. The notice establishes a seven-tier risk classification system, mandates specific provisioning percentages based on risk levels, and prohibits certain short-term foreign currency credit operations. It further details procedures for credit review, renegotiation, recovery, and the recognition of income and costs associated with credit assets.
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