Regulatory Alerts2020-10-30
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Circular Letter No. CC/2020/00000061: Best Practices for Preparing Institutions for Reference Interest Rate Reforms
The Bank of Portugal requires less significant credit institutions and financial societies under its supervision to adopt timely actions to ensure an adequate transition and mitigate risks arising from reference interest rate reforms. Institutions are recommended to follow the best practices identified by the European Central Bank and other relevant working groups, applying additional measures as necessary based on their specific exposure nature and proportionality criteria.
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