Regulatory Alerts1991-12-16
Instruction No. 10/91 on Banking Supervision of Financial Investments and Overdue Loans
The National Bank of Angola mandates that all authorized financial institutions must classify any credit operations not fully or partially settled within 30 days of maturity into account 28 for credits, securities, and due interest. Financial institutions are required to submit quarterly statement reports of these account balances to the Banking Supervision Directorate by the 15th day of the following month, with values disaggregated by state-owned, mixed, private, individual, and other borrowers. This instruction takes immediate effect, with the first reporting period covering December 31, 1991.
INSTRUCTION NO. 10/91 SUBJECT: -BANKING SUPERVISION .Financial Investments
- Overdue Loans With a view to carrying out consistent and systematic monitoring of credit operations conducted by financial institutions; Based on the provisions of Law No. 5/91 of April 20, particularly Articles 34 and 35, and in the exercise of the authority conferred upon me by the Organic Law of the National Bank of Angola. I DETERMINE: 1 - Financial institutions authorized to operate within the national territory must obligatorily record in account "28 -CREDITS, SECURITIES AND DUE INTEREST" all credit operations, whether fully or partially, not settled within 30 days after the respective due date. 2 - Quarterly, by the 15th day of the month following the period in question, financial institutions authorized to operate within the national territory must submit to the Banking Supervision Directorate of the National Bank of Angola, statement reports of the balances of that account, breaking down the values by State-Owned Enterprises, Mixed Enterprises, Private Enterprises, Individuals and Others. 3 - This Instruction takes immediate effect, so the first reports to be submitted must cover the period ending on December 31, 1991. Luanda, December 17, 1991 THE GOVERNOR FERNANDO ALBERTO DA GRAÇA TEIXEIRA
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