The governor of the National Bank of Angola (BNA), José de Lima Massano, made the announcement at a round table, called "Conversas Rumo", in which he was a speaker and addressed the theme "Which Financial System do we want for Angola".
José de Lima Massano said that the Resolution Fund will allow banks that have the need for intervention, "that it is not carried out with public resources essentially, on the one hand, and, even more, with BNA resources, that the law seal ".
"The BNA is now prohibited from placing funds in banks without financial health. It cannot do it indirectly, directly, and therefore it does not put resources in the Resolution Fund", he said.
According to the governor of the central bank, the Resolution Fund will be financed with contributions from the banking sector operators themselves, from the profitability it can give to these resources and may also request loans.
On the other hand, national banks will be obliged to have a recovery plan to respond to eventual cases of financial imbalance, José de Lima Massano said.
"There is a requirement here to prepare recovery plans, which identify measures likely to be adopted, if a situation arises in time that the banking financial institution is in a certain financial imbalance or if it is understood that it is at risk," he explained.
In a medium to long-term logic, José de Lima Massano reinforced, if the bank "feels that it will be able to face difficulties in a relatively short time, it has to find, go on drawing, have a workable recovery plan".
"Hence, in the event that such a situation occurs, the bank is in a position to quickly mobilize the necessary means, make the necessary adjustments and continue with its activity," he said.
