Regulatory Alerts2008-01-18
Added · Updated
Notice No. 01/GBM/2008 of January 18 - Mandatory Reserves
The Bank of Mozambique reduces the mandatory reserve rate for credit institutions from 10.15% to 9.00%, effective for the constitution period starting April 7, 2008. This Notice establishes the calculation methodology for the tax base based on class 4 liabilities, defines constitution periods, and specifies acceptable forms of reserve constitution in national currency. It also details penalty formulas for reserve deficits, including a 10 percentage point aggravation for consecutive deficits and account blocking measures for repeated non-compliance.
Topics
monetary
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