IBM DB2 runs out of memory and receives "Maximum system queue limit exceeded"

Issue

IBM DB2 database running on a Red Hat Enterprise Linux 6 system starts to hang and receives the following message:

"Maximum system queue limit exceeded"

• The following message will be returned in the db2diag.log file:

DB21017E The Command Line Processor encountered a system error with the front-end process output queue. Reason code = -2029060029. SQLO_QUE_EXCEED = maximum system queue limit exceeded.

• Another example of the error:

2014-11-24-08.00.06.208159+000 E6104465E469        LEVEL: Error (OS)
PID     : 77132                TID  : 140737285650208PROC : db2bp
INSTANCE: db2pr1               NODE : 000
FUNCTION: DB2 UDB, oper system services, sqloMLNique, probe:8
MESSAGE : ZRC=0x870F0043=-2029060029=SQLO_QUE_EXCEED
          "Maximum system queue limit exceeded"
          DIA8559C A message queue limit has been exceeded.
CALLED  : OS, -, msgget