Regulatory Alerts2015-01-26
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Notice No. 02/2015 of January 26 on Monetary and Exchange Policy - Limits of Exposure to Exchange Rate Risk
The Bank of Angola issued Notice No. 02/2015 to update the regulatory framework governing the foreign exchange and gold exposure limits for financial institutions under its supervision. The notice establishes a maximum exposure limit of 20% of regulatory own funds for both long and short positions, defines calculation methodologies, and specifies conversion rules using the daily reference exchange rate. Non-compliance triggers daily monetary fines of 150,000 Kwanzas plus 0.25% of the excess amount, and institutions exceeding long position limits are barred from participating in foreign currency auctions until regularized.
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