Regulatory Alerts2020-12-31
Added · Updated
Instruction (Historical) No. 33/2020
Banco de Portugal amends Instruction No. 7/2012 to implement ECB Guideline (EU) 2020/1691 by removing the eligibility of debt instruments backed by residential mortgages or SME loans that fail specific requirements under Article 15(2) and by modifying the calculation method for monetary penalties on non-compliant credit claims. The regulation updates reporting obligations for amortizations, defaults, and new credit claims, mandates the repetition of certain requirements every five years, and establishes new sample situations for internal ratings-based models. These changes take effect on January 1, 2021.
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