2023-11-27

Circular Letter No. CC/2023/00000043 on EBA Recovery Plans

Banco de Portugal issued Circular Letter No. CC/2023/00000043 to credit institutions, mandating the adoption of specific European Banking Authority guidelines and recommendations regarding recovery plans. The directive requires entities to implement standards for recovery plan scenarios, group coverage, recovery indicators, and global recovery capacity planning. This measure ensures alignment with consolidated supervision standards and prudential norms for financial groups.

Banco de Portugal logo

Portugal

Banco de Portugal

Click to view thumbnail

Circular Letter No. CC/2023/00000043

Summary

Discloses the adoption of European Banking Authority (EBA) Guidelines/Recommendations relating to recovery plans, namely the "Guidelines on the various scenarios to be used in recovery plans" (EBA/GL/06/2014), the "Recommendation on the coverage of entities included in the group recovery plan" (EBA/REC/2017/02), the "Guidelines on recovery plan indicators" (EBA/GL/2021/11), and the "Guidelines on global recovery capacity in recovery planning" (EBA/GL/2023/06).

Status

In force

Official Journal

11/2023 2nd Supplement

Publication Date

27-11-2023

Issue Date

27-11-2023

Recipient Type

Credit Institutions

Descriptors

Parent Company, Financial Group, Prudential Standards, Recovery Plan, Information Provision, Supervision, Consolidated Supervision

Recipients

Banks, Central Credit Cooperative Savings Bank, Agricultural Credit Cooperative Savings Banks, Savings Banks, Mortgage Credit Institutions, Credit Financial Institutions


To improve your browsing experience, this site uses anonymized information provided by cookies. Cookie Policy

Cookies are files or text files that contain small amounts of information that are downloaded and stored on the user's device via their browser when visiting a web page. Cookies can be categorized according to the purpose they serve. There are cookies that are strictly necessary for the functioning of the site, while others collect statistical information to analyze site usage and performance, or are used to ensure the provision of additional functionalities to the site or to save visitor preferences regarding navigation, whenever you use the same device. This cookie policy is an integral part of the personal data protection policy. Learn more about these policies Manage cookie preferences

Strictly Necessary Cookies Always active These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only configured in response to actions made by you that correspond to a request for services, such as setting your privacy preferences, logging in, or filling in forms. You can configure your browser to block or alert you about these cookies, but some parts of the website will not work. These cookies do not store any personally identifiable information.

Performance Cookies These cookies allow us to count visits and traffic sources so that we can measure and improve the performance of our website. They help us know which pages are the most and least popular and see how visitors move around the website. All information collected by these cookies is aggregated and, therefore, anonymous. If you do not allow these cookies, we will not know when you visited our site.

Advertising Cookies These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other websites. They do not store personal information directly but are based on the unique identification of your browser and internet device. If you do not allow these cookies, you will have less targeted advertising.

Cookie List

[checkbox label] label Consent Leg.Interest

[checkbox label] label

[checkbox label] label

[checkbox label] label