Regulatory Alerts2023-02-23
Added · Updated
Instruction (Archive) No. 3/2023
The Bank of Portugal establishes the framework for the co-management service of Main Cash Accounts (MCAs) for TARGET-PT participants holding an MCA who do not establish their own connection to the centralized liquidity management service. Eligible institutions must adhere to specific operational requirements, including BIC identification and BPnet access, and are subject to fees of 25 euros per account per month and 0.007 euros per message. The instruction defines service functionalities, contingency procedures, liability limitations, and dispute resolution mechanisms, entering into force on March 20, 2023.
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