Instruction (Historical) No. 31/2020

Instruction No. 31/2020 BO No. 12/2020 Supplement • 2020/12/18 .................................................................................................................................................................................................. Topics Deposit Guarantee Fund :: Annual Contribution Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Deposit Guarantee Fund - Determination of the base contribution rate, the minimum contribution and the limit of irrevocable payment commitments to apply in the annual contributions relating to the year 2021

Considering that, in accordance with the provisions of Article 4(4) of Bank of Portugal Notice No. 11/94 of 21 December, the base contribution rate for the Deposit Guarantee Fund is fixed annually in an Instruction of the Bank of Portugal;

Considering further that Article 3-A(3) of the same Bank of Portugal Notice No. 11/94 of 21 December allows the Bank of Portugal to fix, by means of an Instruction, a minimum annual contribution to be made by the institutions participating in the Deposit Guarantee Fund;

Considering, finally, that, in view of the provisions of Article 12(12) of the same Bank of Portugal Notice No. 11/94 of 21 December, the Bank of Portugal fixes the limit up to which participating credit institutions may substitute the payment of the annual contribution by an irrevocable commitment to make it at any time when the Fund requests it;

The Bank of Portugal, in the exercise of the competence conferred upon it by Articles 3-A, 4 and 12 of Bank of Portugal Notice No. 11/94, having heard the Management Committee of the Deposit Guarantee Fund and the Portuguese Banks Association, as the association representing the vast majority of credit institutions participating in the Fund, determines the following:

Article 1. Base contribution rate For the purposes of determining the contribution rate of each participating institution, the base contribution rate to apply in the year 2021 is 0.0003%.

Instruction No. 31/2020 BO No. 12/2020 Supplement • 2020/12/18 Topics Deposit Guarantee Fund :: Annual Contribution .................................................................................................................................................................................................. Mod. 99999940/T – 01/14

Article 2. Minimum annual contribution

1. The value of the minimum contribution to the Deposit Guarantee Fund, to be made by the institutions participating in the Fund, is 235 euros.
2. The provisions of the preceding paragraph do not apply to Caixa Económica do Porto.

Article 3. Limit of irrevocable payment commitments Participating credit institutions may not, in the year 2021, substitute their annual contribution to the Deposit Guarantee Fund with irrevocable payment commitments.

Article 4. Entry into force This Instruction enters into force on 1 January 2021.