Regulatory Alerts2023-12-21
Instruction (Archive) No. 29/2023
The Bank of Portugal issued Instruction No. 29/2023 to amend Instruction No. 8/2018, which regulates the Interbank Clearing System (SICOI). This regulatory update applies to credit institutions, including the Central Credit Agricultural Mutual Fund and Savings Banks, and entered into force on January 1, 2024. The instruction modifies operational rules for interbank clearing, covering payment systems such as TARGET2, direct debits, and electronic transfers.
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