Regulatory Alerts2022-12-30
Instruction (Historical) No. 20/2022
Banco de Portugal issued Instruction No. 20/2022 to publish the maximum interest rates applicable to consumer credit contracts for the first quarter of 2023. The directive mandates compliance with the caps established under Decree-Law No. 133/2009, specifically targeting the Global Effective Annual Percentage Rate (TAEG). This regulatory measure applies to credit institutions and financial companies operating in Portugal to ensure consumer protection and market transparency.
Instruction (Historical) No. 20/2022
Summary
Publishes, for the 1st quarter of 2023, the maximum rates to be applied in consumer credit contracts under Decree-Law No. 133/2009 of 02-06.
Status
Expired
Official Journal
12/2022 4th Supplement
Enabling Law
Law No. 5/98 of 31-01, art. 17; Decree-Law No. 133/2009 of 02-06, art. 28
Descriptors
Client, Contract, Consumer Credit, Consumer Protection, Member State, Third Countries, Bank Branch, Supervision, Conduct Supervision, Global Effective Annual Percentage Rate (TAEG)
Publication Date
30-12-2022
Disclosure Date
30-12-2022
Entry into Force Date
01-01-2023
Recipient Type
Credit Institutions, Finance Companies
Recipients
Banks, Central Credit Agricultural Mutual Fund, Agricultural Credit Mutual Caisses, Agricultural Credit Mutual Caisses (not belonging to SICAM), Savings Banks, Mortgage Credit Institutions, Credit Financial Institutions, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Financial Leasing Companies, Credit Finance Companies
Theme :: Subtheme
Conduct Supervision
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