Regulatory Alerts2005-08-22
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Notice No. 9/GGBM/2005 of 22 August – Interbank Clearing and Settlement Regulation
The Bank of Mozambique approved the Interbank Clearing and Settlement Regulation, which establishes operating rules for the electronic multilateral clearing of checks and other negotiable instruments denominated in national currency. The regulation defines participation requirements, including the constitution of guarantees rounded up to multiples of 1 billion Meticais, and outlines procedures for handling illiquid or insolvent institutions through loss-sharing among surviving participants. It revokes previous notices and enters into force on the date of publication.
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