The nine (9) systemic banks classified by the National Bank of Angola (BNA) in November will, this January, maintain the legal obligation for each of them to deposit a certain percentage in a mandatory reserve, as defined by the regulator.
These are Banco Angolano de Investimentos (BAI), Banco Fomento Angola (BFA), Standard Bank de Angola (SBA), Banco BIC, Banco de Poupança e Crédito (BPC), Millennium Atlântico (BMA), Económico (BE), Keve and Banco de Comércio e Indústria (BCI).
Systemic banks are financial institutions that, due to their size, can jeopardise the national economy if they fail. Their importance is such that the failure of one of them represents a danger to the financial system.
For this reason, the regulator (BNA) has defined, in the form of a law, the retention of a captive called a mandatory reserve to safeguard against any failures and collapses.
For this January, BAI and BFA are obliged to keep 2.0 per cent as a mandatory reserve with the central bank.
Standard Bank Angola (SBA), Banco BIC, BPC and BMA are obliged to withhold 1.5 per cent.
The remaining three banks – Económico, Keve and BCI – are obliged to retain 1.0 per cent as a mandatory reserve.
Mandatory reserves are a percentage of commercial bank deposits that must be deposited with the central bank at a rate set by it.
A rate of 21.84 per cent is set on the overnight maturity of central bank operations.
Jornal de Angola