Regulatory Alerts1995-12-01
Added · Updated
Notice No. 14/GGBM/95 of 29 December - Mandatory Reserves
The Bank of Mozambique sets the Mandatory Reserve rate at 15% for credit institutions, applying to specific national and foreign currency liabilities held by residents. Institutions must calculate this reserve based on the average balance of the last three months and submit monthly balance sheets by the 15th of each month. Failure to meet reserve requirements or submission deadlines triggers monetary penalties calculated at the rediscount rate plus 2 percentage points. These provisions replace previous service orders and take effect from 1 January 1996.
Topics
monetary
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