Regulatory Alerts2018-12-20
Notice No. 12/2018 of December 21 on Foreign Exchange Position Limit
The Banco Nacional de Angola issues Notice No. 12/2018 to update the daily foreign exchange position limit for Commercial Banks, capping it at 5% of their Regulated Own Funds regardless of long or short positions. The regulation mandates daily reporting, requires excess positions to be sold in the interbank market or to the central bank immediately after submission, and standardizes EUR-based conversion using prevailing reference exchange rates. Non-compliance constitutes a regulatory offense punishable under the Framework Law of Financial Institutions, with all interpretive disputes resolved by the central bank.
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