Regulatory Alerts2020-12-18
Instruction (Historical) No. 31/2020
Banco de Portugal issued Instruction No. 31/2020 to establish the 0.0003% base contribution rate and the 235.00 euro minimum annual contribution for the Deposit Guarantee Fund for the year 2021. The instruction explicitly prohibits participating credit institutions from substituting their annual contribution with irrevocable payment commitments. This regulatory measure applies to banks and credit institutions to ensure adequate funding for the deposit guarantee scheme.
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