Regulatory Alerts2017-07-07
NAP No. 11/2017 - Provisional Special Administration and Intervention Programme
The Central Bank of São Tomé and Príncipe issued NAP No. 11/2017 to establish procedures for Provisional Special Administration and Intervention Programmes aimed at safeguarding banking institutions' financial solidity, depositors' interests, and systemic stability. The regulation authorizes the Central Bank to appoint provisional administrators who assume full control to rectify irregularities, implement recovery plans, enforce capitalization and liability restructuring measures, and manage liquidity support. It further delineates the administrators' duties, reporting obligations, and the specific conditions under which the administration may be terminated or the institution liquidated.
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