Notice No. 04/GG/BM/93 - Chart of Accounts for the Banking System

1 BANCO DE MOÇAMBIQUE NOTICE NO. 04/GG/BM/93 SUBJECT: CHART OF ACCOUNTS FOR THE BANKING SYSTEM

The Bank of Mozambique, pursuant to Articles 54 and 94 of Law No. 28/91 of January 31, and Article 46(2)(i) of Law No. 1/92 of January 3, determines:

1- In Chapter III - "List of Accounts" of the Chart of Accounts for the Banking System (PCSB), the following breakdown of account 6792 - Complementary Exchange Position - MN is inserted: 67920 - Holdings 67921 - Inflows of Liabilities 67922 - Outflows of Liabilities 67923 - Value Adjustments of Liabilities

2- In Chapter IV of the PCSB - "Scope of Accounts", the following changes are made: a) The scope of account 6792 is now worded as follows: 6792 Complementary Exchange Position MN Account intended to be used simultaneously with account 6793, serving as the counterpart to the account operated in national currency. Its movement is made indirectly through its respective sub-accounts.

b) The scope of the sub-accounts of account 6792 is as follows: 67920 Holdings Receives directly all movement in MN generated in ME accounts that are not affected by the Exchange Position of Availability nor belong to the group of Liabilities in ME.

2 67921 – Inflows of Liabilities – Records the amounts of Liabilities in ME at the effective exchange rate of the liability contracting operations if such increases result from operations against MN or at the regularization exchange rate (average buying and selling exchange rate established in the national market for the last day of the month preceding the date of the operation) if the increase in liability is accompanied by an increase in availability of the same amount and in the same foreign currency.

67922 – Outflows of Liabilities – Records the settlements and decreases in liabilities in ME at the effective exchange rate of the operations if such decreases result from operations against MN, or at the regularization exchange rate if there is a simultaneous decrease in availability of the same amount and in the same foreign currency.

67923 – Value Adjustments of Liabilities – Records the value differences in MN between the "stock" of liabilities at the average cost of inflows and the revaluation at the exchange rate defined in the valuation rules of the PCSB (Chapter V). Its movement is made by counterpart to account 616 Fluctuation in Liabilities in foreign currency, so that the balances of these accounts must have the same numerical expression.

3- In Chapter VI of the PCSB - "Rules for the movement of some accounts", the following changes are introduced: a) Point 2.1 is introduced with the following wording, and the current text of point 2, first paragraph, is designated as 2.2.: 2.1. The inflows and outflows of availability in foreign currency, whether monetary species or book money, are designated respectively as purchases or sales if, and only if, their processing is carried out against MN. The remaining operations, namely the movements of increase or decrease in liabilities, are designated in the context of this Plan as Inflows or Outflows.

3 b) Points 2.3 and 2.4 are introduced with the following wording: 2.3. Account 6711 – Exchange Operations – ME is moved by counterpart to the availability accounts in ME listed in class 1 at the regularization exchange rate (average buying and selling exchange rate, established in the national market for the last day of the previous month). At the end of the month, the holdings are valued at the average exchange rate of the last day, which becomes the regularization exchange rate for the following month.

2.4. Account 6793 – Complementary Exchange Position – ME is moved by counterpart to all accounts in foreign currency not included in the Exchange Position of availability that have account 6711 as their counterpart. The exchange rate used is also the regularization exchange rate, defined in the manner indicated in point 2.3.

Maputo, September 2, 1993 THE GOVERNOR ADRIANO AFONSO MALEIANE