Regulatory Alerts2020-04-08
Added
Circular Letter No. CC/2020/00000022
The Bank of Portugal requires credit institutions and financial companies to comply with the European Banking Authority's Guidelines on public and private moratoria on loan repayments applied in the light of the COVID-19 crisis. These guidelines define the conditions under which payment term extensions associated with moratoria do not trigger a default or a forbearance measure under the Capital Requirements Regulation. Institutions must continue applying credit risk assessment procedures, maintain documentation regarding these moratoria, and notify the Bank of Portugal about private moratoria directed at their clients.
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