Regulatory Alerts2014-09-15
Added
Circular Letter No. 3/2014/DMR: SITEME Fee Schedule
The Banco de Portugal updates the SITEME fee schedule to replace the version from December 2013, with changes taking effect on September 1, 2014, following the decommissioning of the Collateralized Interbank Money Market. The new schedule establishes specific handling fees for individual bank loans (50 euros) and loan portfolios (1,000 euros), an annual account maintenance rate of 0.0038%, and transaction fees for the Correspondent Central Banking Model and the Unsecured Interbank Money Market. It also clarifies that fees charged by the Banco de Portugal are exempt from VAT, while commissions charged by Interbolsa are subject to standard VAT, with billing issued monthly to participating institutions.
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