Notice No. 08/GGBM/97 - Creation of New Accounts in the Banking System Plan

BANCO DE MOÇAMBIQUE NOTICE NO. 08/GGBM/97 Subject: Creation of new accounts in the Banking System Plan

The Bank of Mozambique, exercising the competence conferred upon it by Article 54 of Law 28/91 of December 31, determines the creation of the following accounts:

a) 48 – Values to be collected in foreign currency (M.E.)

This account records values to be collected that do not represent credit granted, namely checks drawn on other branches or on other banks.

480 – Checks to be collected on the Bank itself Records checks drawn by holders of accounts opened in any branch of the Bank, while they are not yet sent to the collecting branch.

481 – Checks to be collected on other banks Records checks drawn by third parties on other credit institutions, awaiting their remittance for collection.

484 – Paid certified checks Records in the paying branches the certified checks or checks deposited from other branches.

489 – Other Values Includes other values to be collected that do not fit into the previous subaccounts.

b) The scope of account 556 – Checks and orders to pay in foreign currency (M.E.) is amended, taking the following wording:

“Checks and payment orders, in foreign currency, received or issued awaiting settlement”

c) As a subaccount of account 556 – Checks and orders to pay in foreign currency (M.E.)

5560 – Captive checks Records the liabilities related to checks (notably certified checks) issued on accounts opened in branches of the Bank, whose value is held captive.

Accounting scheme for account 48 – Values to be collected in foreign currency (M.E.)

At the origin counter of the transaction

1. Discount of checks payable at another counter a) Upon receipt of the check (D) 480 – Checks to be collected on the Bank itself (C) 5581 – Creditors Captive Accounts – Foreign Currency (M.E.)

b) Remittance of check to the collecting branch: (D) 601 – Headquarters and Branches – C/Effective – Foreign Currency (M.E.) (C) 480 – Checks to be collected on the Bank itself

At the collecting counter a) Receipt of the check: (D) 55 – Deposits and Liabilities – Foreign Currency (M.E.) (C) 601 – Headquarters and Branches – C/Effective – Foreign Currency (M.E.)

At the origin counter (D) 5581 – Creditors Captive Accounts – Foreign Currency (M.E.) (C) 55 – Deposits and Liabilities – Foreign Currency (M.E.)

2. Values to be collected on other banks At the origin counter a) Receipt of check: (D) 481 – Checks to be collected on other banks (C) 5581 – Captive Accounts – Foreign Currency (M.E.)

b) Sending of the check to clearing: (D) 4120 – D.O. Foreign Currency (M.E.) in Mozambique (C) 481 – Checks to be collected on other banks

At the destination counter c) Upon settlement of the check (D) 55 – Deposits and Liabilities – Foreign Currency (M.E.) (C) 4120 – D.O. Foreign Currency (M.E.) – At the Bank of Mozambique

5562 – Checks – Withdrawals Bank checks issued awaiting realization.

5563 – Received payment orders Intended to record received payment orders to be paid by the branches.

5564 – Advised checks Records in the destination branch the checks advised by other branches.

5565 – Issued payment orders Intended to allow the recording of payment orders in the issuing branch, while they are not yet settled.

5569 – Old checks and orders to be paid Records checks and payment orders to be paid; provided that on December 31 of each year, more than 12 months have passed without them being settled.

The balances previously recorded in account 5560 – Checks and Orders Received and 5561 – Old checks and orders to be paid, must be transferred to the accounts now created.

Maputo, July 7, 1997. THE GOVERNOR Adriano Afonso Maleiane