Directive No. 01/DSP/DRO/2019: Guarantees in CCAA Subsistemas

THE GOVERNOR
Considering the provisions of Instruction No. 01/2019, dated January 3, regarding Guarantees in the CCAA Subsistemas, this Directive serves to establish the following:

1. The minimum guarantee to be considered for participants, in the CCAA clearing subsistemas, with the exception of the SDD, as defined in Instruction No. 01/2019, dated January 3, shall remain valid for 1 (one) calendar month, with its value communicated to each participant by the CCAA operator by the 10 (ten) day of the preceding month.
2. The minimum guarantee to be considered for the SDD shall remain valid for 1 (one) banking business day, with its value communicated to each participant by the CCAA operator 8 (eight) banking business days in advance of the debit date.
3. The communication process mentioned in the preceding points shall be defined in a document prepared by the operator in accordance with point 9.1 of Instruction No. 01/2019, dated January 3.
   DIRECTIVE NO. 01/DSP/DRO/2019
   ORIGIN: PAYMENTS SYSTEM DEPARTMENT (DSP)
   FINANCIAL SYSTEM ORGANIZATION AND REGULATION DEPARTMENT (DRO)

DATE 03/01/2019
SUBJECT: GUARANTEES IN THE CCAA SUBSISTEMAS PARAMETERS FOR DETERMINING MINIMUM GUARANTEES AND NON-COMPLIANCE PENALTIES

DIRECTIVE NO. 01/DSP/DRO/2019 Page 2 of 3
4. The parameters to be considered in the formula for calculating the minimum guarantee, defined in point 2.1 of Instruction No. 01/2019, dated January 3, are as follows:
4.1.for the STC and SCC:
− k = between 1 (one) and 2 (two)
− Gm = 40 (forty) million Kwanzas
4.2.for the SDD:
− k = between 1 (one) and 2 (two)
− Gm = 40 (forty) million Kwanzas
4.3.for the MCX:
− k = 1,5 (one and a half)
− Gm = 40 (forty) million Kwanzas
5. The historical reference data period for calculating the minimum guarantee for the CCAA subsistemas, with the exception of the SDD, is quarterly, corresponding to months m.4 to m.2, where m is the month of guarantee application and m.1 is the month in which its value is determined and communicated to participants.
6. The minimum guarantee for the SDD is calculated based on projected compensation values within the reference period spanning D-8 to D-1, taking into account future debit information provided to participants regarding the compensation date within the subsistema.
7. The parameters to be considered in the formula for calculating the non-compliance penalty regarding the establishment and use of the minimum guarantee, defined in point 5 of Instruction No. 01/2019, dated January 3, are as follows:
− x% = 1%
− 𝑉𝑚 = Kz 100.000,00 (one hundred thousand Kwanzas)

DIRECTIVE NO. 01/DSP/DRO/2019 Page 3 of 3
8. The value to be considered for the penalty on each un-compensated check due to insufficient guarantee, as defined in point 7 of Instruction No. 01/2019, dated January 3, is Kz 1.000,00 (One Thousand Kwanzas) on the first day compensation is not possible and Kz 2.000,00 (Two Thousand Kwanzas) for subsequent days.
9. If the situation mentioned in the preceding point persists in the following clearing session, the check is rejected by the CCAA operator and returned to the remitting bank.
10.Non-compliance with this Directive is punishable under Law No. 5/05, dated July 29 – Payments System Law, and Law No. 16/10, dated July 15 – Bank of Angola Law, along with complementary legislation. 11.Directive No. 06/DSP/15 and Directive No. 03/DSP/16 are revoked, as is any regulation that contradicts the provisions of this Directive. 12.This Directive enters into force on the date of its publication. Luanda, January 3, 2019. PAYMENTS SYSTEM DEPARTMENT ________________________________________ Edgar Bruno Gomes José da Costa -Director- FINANCIAL SYSTEM REGULATION AND ORGANIZATION DEPARTMENT ________________________________________ Carla Gomes -Director-