Regulatory Alerts2023-06-05
Circular Letter No. CC/2023/00000021
The Bank of Portugal issued Circular Letter No. CC/2023/00000021 to consolidate and update prudential expectations regarding the management of real estate assets acquired through loan repayments. This directive aims to minimize the holding period of such assets on balance sheets and ensure a genuine reduction in prudential exposure to these risks. It supersedes previous circulars from 2009 and 2011, applying to credit institutions and specifying accounting and reporting obligations.
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