Regulatory Alerts2012-04-02
Notice No. 11/2012, of April 2
The National Bank of Angola establishes the BNA Rate as a monthly-defined basic interest rate to signal monetary policy and serve as the benchmark for interbank rates. Issued by Governor José de Lima Massano in Official Gazette Series I No. 63 on April 2, this Notice takes immediate effect and assigns interpretive authority to the Asset Markets Department. The framework ensures consistent market signaling by mandating monthly rate definitions and providing a clear reference mechanism for interbank lending.
Published in the Official Gazette of the Republic, Series I, No. 63, dated April 2 NOTICE NO. 11/2012 of April 2 SUBJECT: MONETARY POLICY Basic Interest Rate – BNA Rate Considering the need to institutionalize the Basic Interest Rate of the National Bank of Angola – BNA Rate. To signal monetary policy objectives to the market: Pursuant to Article 51 of Law 16/10, dated July 15, the National Bank of Angola Law. IT IS DETERMINED:
- The Basic Interest Rate of the National Bank of Angola – BNA Rate, is established.
- The BNA Rate is an interest rate aimed at signaling the direction of monetary policy to the market and serves as a reference for the formation of the interbank interest rate.
- The BNA Rate is defined monthly by the Monetary Policy Committee (MPC) of the National Bank of Angola and published via the BNA's website or other public communication medium.
- Questions and omissions arising from the interpretation of this Notice shall be resolved by the Asset Markets Department of the National Bank of Angola.
- This Notice enters into force immediately. PUBLISH Luanda, October 25, 2011 THE GOVERNOR JOSÉ DE LIMA MASSANO