Regulatory Alerts2019-10-15
Added · Updated
Circular Letter No. CC/2019/00000066
The Banco de Portugal revokes previous circulars and establishes updated specific rules for the use of Intelligent Banknote Neutralization Systems (IBNS) by credit institutions and financial entities. The document classifies IBNS into Class 1, requiring irreversible physical destruction of at least 20% of the note's surface, and Class 2, requiring ink marking of at least 10% or 20% of the surface depending on packaging. It mandates that Class 1 systems ensure notes cannot be returned to circulation and that Class 2 inks are visible, IR-absorbent, and safe for human contact.
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