Regulatory Alerts2020-04-03
Notice No. 10/2020 of April 3 on Credit Concession to the Real Economy
The National Bank of Angola issued Notice No. 10/2020 to strengthen credit concession rules for banking financial institutions, prioritizing loans to agricultural cooperatives and SMEs for essential domestic goods. The regulation caps the total annual credit cost at 7.5%, mandates minimum contracted balances of 2.5% of net assets, and sets specific new credit quotas based on institutional asset size. Furthermore, it establishes risk assessment criteria, allows deductions from mandatory reserves, and repeals previous notices while enforcing a case-by-case 'comply & explain' sanction framework.
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