Circular Letter No. CC/2023/00000001

Circular Letter No. CC/2023/00000001
Sent to:
Credit Institutions.
Mod. 40000375/T – 01/14
Subject: Guidelines amending the EBA/GL/2018/10 Guidelines on the disclosure of non-performing and forborne exposures (EBA/GL/2022/13)

The European Banking Authority (“European Banking Authority” – EBA) published, on November 17, 2022, the “Guidelines amending the EBA/GL/2018/10 Guidelines on the disclosure of non-performing and forborne exposures” (EBA/GL/2022/13) (hereinafter “Guidelines”).

The Guidelines are addressed to competent authorities1 and credit institutions2 that are subject to the entirety or part of the disclosure requirements specified in Part VIII of Regulation (EU) No 575/2013 (CRR), in accordance with Articles 6, 10, and 13 of the same Regulation, and that are classified as:

i. Small and non-complex institutions, within the meaning of Article 4(1), point 145, of the CRR, that are listed institutions within the meaning of Article 4(1), point 148, of the CRR;
ii. Other institutions (i.e., that are not large institutions3 or small and non-complex institutions) and that are unlisted institutions within the meaning of Article 4(1), point 148, of the CRR.

These Guidelines can be consulted from the EBA website:
https://www.eba.europa.eu/regulation-and-policy/transparency-and-pillar-3/guidelines-on-disclosure-of-non-performing-and-forborne-exposures

The Guidelines entered into force on December 31, 2022, with the Banco de Portugal having communicated to the EBA its intention to comply with them. This communication therefore implies that the Banco de Portugal has incorporated the content of the Guidelines into the exercise of its supervisory activities.

In light of the above, and in the exercise of the competence attributed to it by Article 17 of its Organic Law, approved by Law No. 5/98 of January 31, the Banco de Portugal hereby transmits to less significant credit institutions covered by the Guidelines its expectation that the disclosure obligations referred to in the aforementioned Guidelines be complied with in accordance with them, starting from the reference date of December 31, 2022 (inclusive).

1 Within the meaning of Article 4(2)(i) of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of November 24, 2010.
2 Within the meaning of Article 4(1)(a) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of June 26, 2013 (CRR).
3 Within the meaning of Article 4(1), point 146, of the CRR.