Circular Letter No. CC/2020/00000061

Summary

Best practices in preparing institutions for reference interest rate reforms.

Reinforces the importance of less significant credit institutions and financial companies subject to their supervision adopting the necessary actions in a timely manner to ensure an adequate transition and mitigate the risks arising from reference interest rate reforms.

Status: In force

Official Journal: 10/2020 3rd Supplement

Publication Date: 30-10-2020

Issue Date: 27-10-2020

Recipient Type: Credit Institutions, Financial Companies

Descriptors: Contract, Housing Credit, Consumer Credit, Mortgage Credit, Financial Instruments, Prudential Standards, Supervision, Interest Rate, Reference Rate

Recipients: Exchange Agencies, Banks, Central Credit Cooperative Agricultural Credit Box, Agricultural Credit Cooperative Boxes, Savings Banks, Mortgage Credit Institutions, Credit Financial Institutions, Brokerage Companies, Regional Development Companies, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Financial Leasing Companies, Brokerage Financial Companies, Credit Financial Companies, Microcredit Financial Companies, Wealth Management Management Companies, Intermediaries of the Monetary or Exchange Markets

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