Regulatory Alerts2016-08-08
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Instruction No. 11/2016 of August 8, 2016
The Bank of Angola issued Instruction No. 11/2016 to clarify accounting and prudential principles for handling credit impairment losses. The directive mandates that financial institutions apply IAS 39 and Instruction No. 05/16 for loss measurement, with a transition period allowing the use of standard provisioning methodologies until November 30, 2017. For regulatory capital calculations, institutions must recognize the higher of the impairment losses or standard provisioning amounts starting from December 1, 2017.
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