Notice No. 14/96 of July 29

NOTICE NO. 14/96 of July 29

Considering the need to define the numbering of Voluntary and Compulsory Reserves under the Resolution of the Council of Ministers, dated July 26, 1996, and Articles 26 and 60 of the Organic Law of the Bank of Angola. I DETERMINE

Article 1
Voluntary deposits by Financial Institutions at the Bank of Angola shall be subject to monetary correction on the monthly average balance, and interest at zero point two five percent (0.25%) per month shall be paid on the corrected value.
Article 2
Compulsory deposits by Financial Institutions at the Bank of Angola shall be monetarily adjusted every thirty (30) days, applying the monetary correction index to the monthly average balance;
Article 3
The amounts of interest and monetary correction referred to in Articles 1 and 2 shall be credited on the last business day of the following month into the bank reserve accounts of each Financial Institution.
Article 4
1- Notice No. 04/95 of June 23 is hereby revoked.
2- This Notice shall enter into force on August 1, 1996.
PUBLISH

Luanda, July 29, 1996
THE GOVERNOR
SEBASTIÃO BASTOS LAVRADOR