Regulatory Alerts2024-02-21
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Notice No. 01/2024 on Recovery Plans for Banking Financial Institutions
The National Bank of Angola issued Notice No. 01/2024 to require Banking Financial Institutions under its supervision to prepare and submit comprehensive recovery plans annually by June 30. The regulation mandates specific recovery strategies, including capital and liquidity strengthening, asset disposal, and debt refinancing, alongside defined monitoring indicators and critical risk thresholds. Institutions must also implement robust information management policies to ensure timely crisis decision-making, with non-compliance subject to administrative sanctions.
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