Regulatory Alerts2023-04-28
Circular Letter No. CC/2023/00000020
Banco de Portugal issued Circular Letter No. CC/2023/00000020 to transmit guidelines specifying criteria for the identification, assessment, management, and reduction of risks arising from potential changes in interest rates. The document mandates that credit institutions evaluate and monitor credit spread risk resulting from activities not included in the trading book. These requirements are based on Article 84(6) of Directive 2013/36/EU and apply to credit institutions, including banks and mutual agricultural credit entities.
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