Regulatory Alerts2020-12-31
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Instruction (Archive) No. 34/2020
The Bank of Portugal amends Instruction No. 3/2015 to align the Eurosystem monetary policy framework with ECB Guidelines 2020/1690 and 2020/1692. The amendments introduce new definitions for legislative covered bonds and sustainability-linked instruments, update collateral eligibility criteria for non-covered bonds and loan claims, and modify remuneration rules for reserve requirements. Additionally, the instruction imposes new verification procedures, reporting obligations including AnaCredit identifiers, and specific conditions for the acceptance of External Credit Assessment Institutions (ECAF).
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