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Bank of Namibia

Financial Stability and Macroprudential Oversight

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Ms. F Nakusera
Director, Financial Stability & Macroprudential Oversight and Head of NDGA

The Financial Stability and Macroprudential Oversight Department is responsible for safeguarding the stability of the financial system as well as ensuring effective macroprudential oversight. The stability of the financial system is a catalyst for growth and development of both the financial sector and the economy as a whole. In this regard, the department supports the Macroprudential Oversight Committee (MOC) in formulating macroprudential policies and applying these policies in order to reduce systemic risks to the financial system. In addition to administratively supporting the Namibia Deposit Guarantee Authority (NDGA), the department is also responsible for assisting the Bank in resolving distressed banks and supporting NAMFISA in resolving Systemically Important Non-Bank Financial Institutions (SIFIs) in Namibia. The Department consists of two Divisions which are the Financial Stability and Macroprudential Policy & Resolution.


The Financial Stability Division

Is responsible for monitoring risks that have the potential to culminate into a systemic crisis. The regulatory structure plays an important role in monitoring the financial system in Namibia which consists of financial markets, instruments, institutions, and infrastructure. Regulation is exercised through input and consultations with NAMFISA, the Ministry of Finance and other stakeholders. The Bank of Namibia Act (Act No. 1 of 2020) makes provision for the Financial System Stability Committee (FSSC) which serves in an advisory capacity, thus making recommendations to the Authorities for remedial action when warranted.


The Macroprudential Policy & Resolution Division

Focuses on effective identification and assessment of the strengths, risks, weaknesses, and vulnerabilities in the financial system, while also assessing the resilience of the financial system to domestic and external shocks using macroeconomic and macroprudential analyses. Such analyses serve as a basis for formulating macroprudential policies and regulations. The Division is also responsible for ensuring the existence and operationalisation of an effective resolution framework for failing financial institutions. Furthermore, the Division is tasked with the administration of the Namibia Deposit Guarantee Authority (NDGA), an institution created through the Namibia Deposit Guarantee Act (Act No. 16 of 2018). The Mandate of the NDGA is to manage the Deposit Guarantee Scheme, whose main objective is the protection of depositors against the loss of their deposits in the event of bank failure.
 


Departmental Management

Ms Florette Nakusera, Director: Financial Stability & Macroprudential Oversight and Head of NDGA

Today’s rates
Inflation rates
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NCPI

CONSUMER PRICES Total (All urban areas) 12-Term % change

NCPI 7,30 Aug 2022
Interest rates
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Repo rate

Repurchase rate: Rate at which the private (sector) banks borrow namibian dollars from the Bank of Namibia

Prime overdraft rate (predominant rate)

Benchmark rate at which private banks lend out to the public.

Repo 5.50
Prime 9.25
Exchange rates
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NAD per US Dollar

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per British Pound

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Euro

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Angolan Kwanza

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

N$ / $ 17,9876 30 Sep 2022
N$ / £ 20,0256 30 Sep 2022
N$ / € 17,6551 30 Sep 2022
N$ / AOA 0,0415 30 Sep 2022

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