Regulatory Alerts2001-05-20
Added · Updated
Notice No. 00009/GGBM/2001: Norms on Supervision on a Consolidated Basis
The Bank of Mozambique establishes prudential norms requiring credit institutions and financial societies to submit to consolidated supervision, including the consolidation of accounts and calculation of solvency ratios. The regulation defines entities subject to this supervision based on control thresholds, such as exclusive or joint control, and significant influence, while allowing exemptions for entities with balance sheets under 2.5 billion meticais or representing less than 1% of the parent company. It mandates the use of full, proportional, or equity consolidation methods and requires adherence to specific reporting formats and internal control procedures to ensure transparency and manage contagion risk.
Topics
Share