2023-12-21

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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Instruction (Archive) No. 29/2023

Summary

Amends Instruction No. 8/2018, which regulates the Interbank Clearing System (SICOI).

Status

In force

Official Gazette

12/2023

Legal Supplement

Enabling Law Law No. 5/98, of 31-1, Art. 14.

Descriptors

Payment Systems, Clearing, Checks, Direct Debits, Commercial Bill, Multibanco, Electronic Payment, Tariff, Direct Debit System, TARGET2, Interbank Electronic Transfers, Credit Cards, Debit Cards

Publication Date

21-12-2023

Disclosure Date

21-12-2023

Entry into Force Date

01-01-2024

Recipient Type

Credit Institutions

Recipients

Banks, Central Credit Agricultural Mutual Fund, Agricultural Credit Mutual Savings Banks

Theme :: Subtheme

Clearing

Amended/Revoked Instructions

Instruction No. 8/2018

Link

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