2023-04-28

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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Circular Letter No. CC/2023/00000020

Summary Transmits the Guidelines issued under Article 84(6) of Directive 2013/36/EU that specify criteria for the identification, assessment, management, and reduction of risks resulting from potential changes in interest rates and on the assessment and monitoring of credit spread risk resulting from activities not included in the trading book.

Status In force

Official Journal 4/2023 3rd Supplement

Publication Date 28-04-2023

Issue Date 28-04-2023

Recipient Type Credit Institutions

Descriptors Interest Rate Risk, Trading Book, Supervision, Prudential Standards, Risk Management, Banking Book, Internal Control, Provision of Services, Bank Branch

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

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