Notice No. 7/2024

Banco de Portugal issued Notice No. 7/2024 to set the countercyclical capital buffer rate at 0.75% of total risk exposures in Portugal. This requirement applies to credit institutions and financial credit institutions, calculated under Article 92(3) of the EU Capital Requirements Regulation while excluding specific risk classes. The notice entered into force on January 1, 2025, to enhance financial stability and systemic risk resilience.

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Notice No. 7/2024

Summary

Sets the countercyclical capital buffer rate at 0.75% of the total amount of risk exposures in Portugal, calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013, excluding the risk classes excepted in Article 138-L(5) of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92 of 31 December.

Status

In force

Official Journal

DR, 2nd Series, Part E, No. 253 Supplement, of 31-12-2024

Enabling Law

Decree-Law No. 298/92 of 31-12, arts. 138-A, 138-F, 138-G and 138-I; Law No. 5/98 of 31-1, art. 16-A

Publication Date

31-12-2024

Entry into Force

01-01-2025

Descriptors

Own Funds, Solvency, Systemic Risk, Financial Stability

Target Audience

Credit Institutions

Recipients

Banks, Central Credit Cooperative of Agricultural Credit, Agricultural Credit Cooperatives, Savings Banks, Mortgage Credit Institutions, Financial Credit Institutions

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