Regulatory AlertsNotice No. 7/2021
Bank of Portugal issued Notice No. 7/2021 to concretize the duties of financial institutions regarding the prevention and out-of-court regularization of credit contract defaults under Decree-Law No. 227/2012. This notice revokes the previous Notice No. 17/2012 and applies to credit institutions, electronic money institutions, payment institutions, and financial credit societies. It entered into force on January 1, 2022, following its publication in the Official Journal on December 20, 2021.
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