Regulatory Alerts2020-03-30
Added · Updated
Instruction No. 04/2020 of March 30 – Financial System: Flexibility in Deadlines for Credit Obligations
The Central Bank of Angola issued Instruction No. 04/2020 mandating financial institutions to grant clients a 60-day moratorium on principal and interest repayments, temporarily suspending related demands and default notices due to the Covid-19 pandemic. The directive applies to regular credit operations, preserves current installment values, and ensures compliance with prudential standards and IFRS 9 without triggering automatic default classification. Financial institutions must report these exposures to the Credit Risk Information Center, implement the measures within two months of publication, and waive associated fees.
More like this from BNA
BNA published 1 document in the last 30 days. We email you each new one the day it's published.