Instruction (Archive) No. 24/2019

Instruction No. 24/2019
BO No. 12/2019 • 2019/12/16
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Topics
Resolution Fund :: Contributions
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Resolution Fund – Determination of the base rate for additional periodic contributions for the year 2020

Considering that, pursuant to paragraph 5 of Article 14 of Law No. 23-A/2015 of 26 March, without prejudice to the periodic contributions due under Article 153-H of the General Regime of Credit Institutions and Financial Companies, additional periodic contributions may also be levied to the Resolution Fund to enable the fulfillment of obligations assumed, or to be assumed, by the Resolution Fund by virtue of the provision of financial support to resolution measures applied until 31 December 2014, to which the regime provided for in Decree-Law No. 24/2013 of 19 February applies, with the necessary adaptations;

Considering further that, pursuant to paragraph 2 of Article 11 of Decree-Law No. 24/2013 of 19 February and paragraph 3 of Article 2 of Bank of Portugal Notice No. 1/2013 of 26 March, the rate to be applied to the objective incidence base of periodic contributions is fixed annually in a Bank of Portugal Instruction;

The Bank of Portugal, using the competence attributed to it by paragraph 2 of Article 11 of Decree-Law No. 24/2013 of 19 February and by paragraph 3 of Article 2 of Bank of Portugal Notice No. 1/2013, having heard the Directive Commission of the Resolution Fund and the Portuguese Banks Association, as the association in Portugal representing the institutions participating in the Resolution Fund that, collectively, hold the largest volume of deposits, determines the following:

Article 1.
Base Rate
The base rate to be in force in 2020 for the determination of additional periodic contributions to the Resolution Fund is 0.060%.

Instruction No. 24/2019 BO No. 12/2019 • 2019/12/16 Topics Resolution Fund :: Contributions
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Mod. 99999940/T – 01/14
Article 2.
Entry into Force
This Instruction enters into force on 1 January 2020.