Regulatory Alerts2021-05-13
Added · Updated
Instruction No. 08/2021 of May 14 on Central Government Balances Recorded in Banking Financial Institutions' Balance Sheets
The National Bank of Angola requires Banking Financial Institutions to classify, record, and daily deposit Central Government balances into designated central bank accounts by 8:00 a.m. the following business day, while excluding these balances from mandatory reserve calculations and revoking conflicting prior regulations. Institutions must maintain the accounts in their own names, apply accounting code 1.10.20 for recording, and achieve full compliance by May 24, 2021. Non-compliance triggers penalties under the Basic Law on Financial Institutions, with interpretive disputes resolved directly by the central bank.
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