Directive No. 08-DMA-2017 of December 1, 2017

Seen

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The Governor
DIRECTIVE No. 08/DMA/2017
ORIGIN: ASSET MARKETS DEPARTMENT
DATE: 01/12/2017
SUBJECT: BNA BASIC INTEREST RATE – BNA RATE, INTEREST RATES FOR PERMANENT LENDING AND LIQUIDITY ABSORPTION FACILITIES

Given the need to adjust the BNA rate and the interest rates for the Permanent Lending and Liquidity Absorption Facilities, regulated under Notice No. 11/2011 of October 20;

In accordance with the decision of the seventy-third ordinary session of the Monetary Policy Committee, held on November 30, 2017;

This Directive serves to establish the following:

1. The BNA Basic Interest Rate – BNA Rate – is increased by 2 (two) percentage points, rising from 16.00% to 18.00% per annum;

2. The Interest Rate for the Permanent Liquidity Lending Facility (FCO) remains at 20.00% per annum;

3. The Interest Rate for the Seven-Day Permanent Liquidity Absorption Facility (FAL7) is reduced by 2.75 (two point seventy-five) percentage points, falling from 2.75% per annum to 0.00% per annum;

4. The Interest Rate for the Overnight Permanent Liquidity Absorption Facility (FAO) remains at 0.00% per annum;

5. The interest rates are subject to periodic review by the National Bank of Angola;

6. Doubts and omissions arising from the interpretation and application of this Directive are clarified by the Asset Markets Department.

7. This Directive enters into force immediately and revokes Directives No. 05 and 06/DMA/2017 of July 31.

ASSET MARKETS DEPARTMENT