Regulatory Alerts1996-01-10
Added · Updated
Notice No. 016/GGBM/96 Determining the Central Bank Annual Rediscount Rate
The Bank of Mozambique sets the annual rediscount rate at 32% and establishes usage limits of up to 6% of demand deposits for rediscount operations with terms up to two weeks. A 2 percentage point surcharge applies to increased rediscount limits with terms up to one week, while account overdrafts and mandatory deposit deficits incur a calculated penalty rate. This notice becomes effective on December 16, 1996, and may apply to existing operations if their contracts allow for alteration upon legal fixation of new limits.
Topics
monetary
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