2020-03-31

Instruction (Archive) No. 7/2020

The Bank of Portugal issued Instruction No. 7/2020 to publish the maximum interest rates applicable to consumer credit contracts for the second quarter of 2020. This directive implements the legal framework established by Decree-Law No. 133/2009 to ensure consumer protection and market transparency. The regulation entered into force on April 1, 2020, and applies to all credit institutions and financial companies operating in Portugal.

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Instruction (Archive) No. 7/2020

Summary Publishes, for the 2nd quarter of 2020, the maximum rates to be applied in consumer credit contracts under Decree-Law No. 133/2009 of June 2.

Status In force

Official Journal 3/2020 2nd Supplement

Enabling Law Law No. 5/98 of January 31, Art. 17; Decree-Law No. 133/2009 of June 2, Art. 28

Descriptors Client, Contract, Consumer Credit, Consumer Defense, Member State, Third Countries, Bank Branch, Supervision, Conduct Supervision, Effective Annual Percentage Rate of Charge (APRC)

Regulated Instrument Instruction No. 14/2013 :: Decree-Law No. 133/2009 of June 2

Publication Date 31-03-2020

Disclosure Date 31-03-2020

Entry into Force Date 01-04-2020

Recipient Type Credit Institutions, Finance Companies

Recipients Banks, Central Credit Agricultural Mutual Fund, Agricultural Credit Mutual Funds, Agricultural Credit Mutual Funds (not belonging to SICAM), Savings Banks, Mortgage Credit Institutions, Credit Finance Companies, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Leasing Companies, Credit Finance Companies

Theme :: Subtheme Conduct Supervision

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