Circular Letter No. CC/2020/00000066

Circular Letter No. CC/2020/00000066 Sent to: Credit Institutions. Mod. 40000375/T – 01/14 Subject: Notification dates and calendars for minimum reserve maintenance periods for the year 2021

This Circular Letter serves to inform institutions subject to minimum reserves in Portugal about the deadline dates for notifying the amount of minimum reserves to be complied with by each institution during the minimum reserve maintenance periods for the year 2021 (Table 1 for monthly reporting and Table 2 for quarterly reporting), in accordance with the provisions of Article 5(4) of the Regulation of 12 September 2003 on the application of the European Central Bank (ECB) minimum reserve regime (ECB/2003/09).

We take this opportunity to inform you about the calendar for the minimum reserve maintenance periods for the year 2021 (Table 3), in accordance with Article 7(1) of the aforementioned Regulation, and about the amendment to the calendar for the minimum reserve maintenance periods for the year 2020 (Table 4). These calendars were published by the European Central Bank in its communications of 10 June 2020.

Bank of Portugal publishes the notification dates and calendars for the minimum reserve maintenance periods on its institutional website (https://www.bportugal.pt/page/instrumentos-pol-mon).

The Markets Department is available to provide any additional clarifications.

Table 1 Incidence Base (Monthly reporting) Start of Maintenance Period Notification Date Acceptance Date November 2020 27 January 2021 22 January 2021 26 January 2021 January 2021 17 March 2021 12 March 2021 16 March 2021 February 2021 28 April 2021 23 April 2021 27 April 2021 April 2021 16 June 2021 11 June 2021 15 June 2021 May 2021 28 July 2021 23 July 2021 27 July 2021 July 2021 15 September 2021 10 September 2021 14 September 2021 September 2021 3 November 2021 29 October 2021 2 November 2021 October 2021 22 December 2021 17 December 2021 21 December 2021

Mod. 40000375/T – 01/14 Table 2 Incidence Base (Quarterly reporting) Start of Maintenance Period Notification Date Acceptance Date September 2020 27 January 2021 11 December 2020 15 December 2020 December 2020 17 March 2021 12 March 2021 16 March 2021 December 2020 28 April 2021 12 March 2021 16 March 2021 March 2021 16 June 2021 11 June 2021 15 June 2021 March 2021 28 July 2021 11 June 2021 15 June 2021 June 2021 15 September 2021 10 September 2021 14 September 2021 June 2021 3 November 2021 10 September 2021 14 September 2021 September 2021 22 December 2021 17 December 2021 21 December 2021

Table 3 ECB Council Meeting Start of maintenance period End of maintenance period Incidence base for credit institutions that submit monthly declarations Incidence base for credit institutions that submit quarterly declarations Duration of maintenance period (days) 21 January 2021 27 January 2021 16 March 2021 November 2020 September 2020 49 11 March 2021 17 March 2021 27 April 2021 January 2021 December 2020 42 22 April 2021 28 April 2021 15 June 2021 February 2021 December 2020 49 10 June 2021 16 June 2021 27 July 2021 April 2021 March 2021 42 22 July 2021 28 July 2021 14 September 2021 May 2021 March 2021 49 9 September 2021 15 September 2021 2 November 2021 July 2021 June 2021 49 18 October 2021 3 November 2021 21 December 2021 September 2021 June 2021 49 16 December 2021 22 December 2021 To be confirmed October 2021 September 2021 To be confirmed

Table 4 ECB Council Meeting Start of maintenance period End of maintenance period Incidence base for credit institutions that submit monthly declarations Incidence base for credit institutions that submit quarterly declarations Duration of maintenance period (days) 23 January 2020 29 January 2020 17 March 2020 November 2019 September 2019 49 12 March 2020 18 March 2020 5 May 2020 January 2020 December 2019 49 30 April 2020 6 May 2020 9 June 2020 March 2020 December 2019 35 4 June 2020 10 June 2020 21 July 2020 April 2020 March 2020 42 16 July 2020 22 July 2020 15 September 2020 May 2020 March 2020 56 10 September 2020 16 September 2020 3 November 2020 July 2020 June 2020 49 29 October 2020 4 November 2020 15 December 2020 September 2020 June 2020 42 10 December 2020 16 December 2020 26 January 2021 October 2020 September 2020 42