Regulatory Alerts2020-10-01
Added · Updated
Instruction No. 16/2020 of October 2 on Monetary Policy – Mandatory Reserves
The Banco Nacional de Angola issued Instruction No. 16/2020 to update the calculation and compliance rules for mandatory reserves, aligning them with the current macroeconomic stability framework. The directive establishes distinct incidence bases and calculation formulas for national and foreign currency reserves, specifying eligible accounts, applicable coefficients, and deduction mechanisms for government balances and credit rights. It mandates daily data transmission via the SSIF system, introduces a 1% monthly penalty for shortfalls or inconsistent reporting, and revokes the previous Instruction No. 17/2019 effective upon publication.
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