Regulatory Alerts2015-04-20
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Notice No. 07-2015 of April 20, 2015
The Bank of Angola issued Notice No. 07-2015 to mandate the migration of check clearing from the Values Clearing Service to the Check Clearing Subsystem. The regulation establishes May 29, 2015, as the final deadline for submitting checks to the old system and June 3, 2015, as the date for the final clearing session and extinction of the Values Clearing Service. It further stipulates that the Check Clearing Subsystem becomes operational on June 1, 2015, with all participating financial institutions required to transition to the new subsystem immediately.
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