2025-12-16
Banco de Portugal issued Circular Letter No. CC/2025/00000035 to define the calculation method for the Base of Incidence used in determining Minimum Reserves. This regulation supersedes the expired Circular Letter No. 1/2003/DDE/DMR of January 13, 2003. It applies to Credit Institutions and Electronic Money Institutions as published in the Official Bulletin on December 16, 2025.