Regulatory Alerts1996-10-11
Instruction No. 07/96 on Monetary Policy – Amendment to Mandatory Reserves Regulations
The National Bank of Angola issued Instruction No. 07/96 to partially amend the mandatory reserves regime established under Notice No. 01/91 and Instruction No. 01/95. The directive sets the mandatory reserves coefficient at forty percent and establishes a penalty framework for reserve shortfalls, calculated using the Monetary Correction Index plus double the highest active operation rate. Effective immediately for October compliance, it mandates daily balance monitoring, penalty collection via bank reserve account debits on the last business day of the following month, and formal notification to affected institutions.
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