Regulatory Alerts2020-08-21
Added · Updated
Notice No. 20/2020 of August 21 on Operational Rules for Credit Guarantee Companies
This notice establishes operational rules for credit guarantee companies (SGCs) supervised by the Banco Nacional de Angola, mandating a minimum regulatory solvency ratio of 10% calculated against risk-weighted assets. It defines the components of regulatory own funds, limits total guarantees per client to 10% of own funds, and requires the maintenance of specific generic and special reserves. The document also regulates guarantee currencies, interest rates, accounting standards, external audits, and information reporting obligations, with a 12-month transitional period for pending processes.