Regulatory Alerts2026-08-26
Added
Circular Letter No. CC/2026/00000022: Applicability of EBA Guidelines on the concept of 'connected clients' to less significant credit institutions
The circular mandates that less significant credit institutions and entities identified in Article 1 of Notice No. 11/2014 continue to apply Sections 5 and 8 of EBA Guidelines EBA/GL/2017/15 regarding alternative approaches for risks on central administrations and control procedures for identifying connected clients. This requirement persists despite the direct applicability of Delegated Regulation (EU) 2024/1728, which replaced most of the original guidelines for credit institutions from July 8, 2024. The document supersedes Circular Letter No. CC/2023/00000017 and establishes that the Bank of Portugal will consider these specific sections when verifying compliance with applicable legal and regulatory provisions.
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