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2021-11-19

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Circular Letter No. CC/2021/00000054

This circular informs credit institutions in Portugal of the notification deadlines for minimum reserve amounts and the maintenance period calendars for 2022, based on ECB Regulation 2021/1. It specifies the monthly and quarterly reporting schedules, including notification and acceptance dates for each maintenance period, and provides the updated calendar for 2021 maintenance periods as published by the European Central Bank.

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Circular Letter No. CC/2021/00000054

Sent to: Credit Institutions.

Mod. 40000375/T – 01/14

Subject: Notification dates and calendars of minimum reserve maintenance periods for the year 2022

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 2022 (Table 1 for monthly reporting and Table 2 for quarterly reporting), in accordance with Article 7(6) of Regulation of 22 January 2021 on the application of the European Central Bank (ECB) minimum reserve regime (ECB/2021/1).

Opportunity is taken to inform about the calendar of minimum reserve maintenance periods for the year 2022 (Table 3), in accordance with Article 8(2) of the aforementioned Regulation, and about the alteration of the calendar of minimum reserve maintenance periods for the year 2021 (Table 4). These calendars were published by the European Central Bank in its communications of 23 July 2021.

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

The Markets Department is available to provide any additional clarifications.

Table 1 – Minimum reserve notification dates for 2022 (monthly reporting)

Base of Incidence (monthly reporting)Start of Maintenance PeriodNotification DateAcceptance Date of Notification
December 20219 February 20224 February 20228 February 2022
January 202216 March 202211 March 202215 March 2022
February 202220 April 202214 April 202219 April 2022
April 202215 June 202210 June 202214 June 2022
May 202227 July 202222 July 202226 July 2022
July 202214 September 20229 September 202213 September 2022
September 20222 November 202228 October 20221 November 2022
October 202221 December 202216 December 202220 December 2022

Mod. 40000375/T – 01/14

Table 2 – Minimum reserve notification dates for 2022 (quarterly reporting)

Base of Incidence (quarterly reporting)Start of Maintenance PeriodNotification DateAcceptance Date of Notification
September 20219 February 202217 December 202121 December 2021
December 202116 March 202211 March 202215 March 2022
December 202120 April 202211 March 202215 March 2022
March 202215 June 202210 June 202214 June 2022
March 202227 July 202210 June 202214 June 2022
June 202214 September 20229 September 202213 September 2022
June 20222 November 20229 September 202213 September 2022
September 202221 December 202216 December 202220 December 2022

Table 3 – Calendar of minimum reserve maintenance periods for 2022

ECB Council MeetingStart of Maintenance PeriodEnd of Maintenance PeriodBase of Incidence for credit institutions submitting monthly statementsBase of Incidence for credit institutions submitting quarterly statementsDuration of Maintenance Period (days)
3 February 20229 February 202215 March 2022December 2021September 202135
10 March 202216 March 202219 April 2022January 2022December 202135
14 April 202220 April 202214 June 2022February 2022December 202156
9 June 202215 June 202226 July 2022April 2022March 202242
21 July 202227 July 202213 September 2022May 2022March 202249
8 September 202214 September 20221 November 2022July 2022June 202249
27 October 20222 November 202220 December 2022September 2022June 202249
15 December 202221 December 2022to be confirmedOctober 2022September 2022to be confirmed

Table 4 – Calendar of minimum reserve maintenance periods for 2021

ECB Council MeetingStart of Maintenance PeriodEnd of Maintenance PeriodBase of Incidence for credit institutions submitting monthly statementsBase of Incidence for credit institutions submitting quarterly statementsDuration of Maintenance Period (days)
21 January 202127 January 202116 March 2021November 2020September 202049
11 March 202117 March 202127 April 2021January 2021December 202042
22 April 202128 April 202115 June 2021February 2021December 202049
10 June 202116 June 202127 July 2021April 2021March 202142
22 July 202128 July 202114 September 2021May 2021March 202149
9 September 202115 September 20212 November 2021July 2021June 202149
18 October 20213 November 202121 December 2021September 2021June 202149
16 December 202122 December 20218 February 2022October 2021September 202149

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