Regulatory Alerts2021-02-02
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Instruction No. 01/2021 of February 2, 2021: Monetary Policy - Custody Rate Applicable to Free Reserves Deposited at the National Bank of Angola
The National Bank of Angola issued Instruction No. 01/2021 to stimulate financial intermediation and economic diversification by establishing a tiered custody rate on commercial banks' free reserves. The regulation divides these reserves into two levels, exempting the first Kz 3 billion and applying a 0.1% rate to balances between Kz 3 billion and Kz 6 billion, while imposing a 0.2% rate on amounts exceeding Kz 6 billion. Calculated daily and automatically debited through the SPTR system, this framework replaces Instruction No. 14/20 and entered into force upon publication on February 2, 2021.
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