Regulatory Alerts2019-01-03
Directive No. 01/DSP/DRO/2019: Guarantees in CCAA Subsistemas
The Governor of the Bank of Angola, through its Payments System and Financial System Regulation Departments, issues Directive No. 01/DSP/DRO/2019 to establish calculation parameters, validity periods, and penalty structures for minimum guarantees across CCAA clearing subsystems. The directive mandates a one-calendar-month validity for most subsystems and a one-banking-day validity for the Direct Debit System (SDD), while defining quarterly historical reference periods and fixed penalty rates of 1% plus Kz 100,000 for non-compliance. It further sets specific penalty amounts of Kz 1,000 on the first day and Kz 2,000 for subsequent days for un-compensated checks caused by guarantee shortfalls, revokes prior conflicting directives, and takes effect upon publication.