Regulatory Alerts1994-12-01
Added · Updated
Notice No. 017/GGBM/94 Determination of Interest Rates under Article 53 of Law No. 28/91
The Governor of the Bank of Mozambique sets the annual central bank rediscount rate at 69.7% and establishes usage limits for rediscount operations relative to demand deposits. Specifically, rediscounts are limited to 6% of demand deposits for terms up to two weeks, with an additional 6% allowed for one-week terms subject to a 2% rate increase. This notice applies to existing operations if their contracts permit alteration upon legal fixation of new limits and takes effect on November 26, 1994.
Topics
monetary
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