Regulatory Alerts2021-02-10
Instruction No. 02/2021 of February 10
The Bank of Angola issued Instruction No. 02/2021 to update the rules for calculating and fulfilling mandatory reserves, aligning them with current macroeconomic stability goals. The directive establishes distinct incidence bases and calculation formulas for national and foreign currency reserves, mandates weekly calculations with daily fulfillment, and introduces a 1% monthly penalty for daily shortfalls. It further standardizes data transmission via the SSIF, outlines contingency procedures, and revokes prior regulations to ensure consistent compliance across banking financial institutions.
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