Regulatory Alerts1994-04-21
Instruction No. 3/94: Monetary Policy - Remuneration of Bank Reserves
The Governor of the National Bank of Angola issued Instruction No. 3/94 to establish a 6% annual interest rate on voluntary reserve deposits held by financial institutions at the Central Bank. The regulation mandates that interest be calculated on daily balances exceeding mandatory reserve requirements and credited semi-annually to each institution's reserve account on the last business day of each calendar semester. This directive aligns reserve remuneration with the 1994 Monetary Programming and Economic and Social Program objectives, taking immediate effect upon publication.
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