Regulatory Alerts2001-05-20
Added · Updated
Notice No. 13/GBM/2001 of 28 December - Mandatory Reserves
The Bank of Mozambique establishes mandatory reserve requirements for credit institutions, setting a minimum daily incidence rate of 10.00% and an average rate of 11.51% on specified national and foreign currency liabilities. The regulation defines calculation periods, constitution methods, and imposes monetary penalties for deficits, including a 0.10% base penalty rate and a 10 percentage point aggravation for repeat offenses within the same economic year. Institutions failing to meet reserves for four out of six consecutive periods face automatic account blocking, while new institutions receive a six-month exemption from these requirements. This Notice enters into force for the constitution period beginning January 22, 2002, repealing Notice No. 05/GBM/2001.