Regulatory Alerts2026-03-26
Added · Updated
Instruction (Historical) No. 4/2026
The Bank of Portugal amends Instruction No. 3/2015 to implement European Central Bank guidelines modifying the Eurosystem's monetary policy framework and collateral management rules. The changes introduce a 'climate factor' adjustment for eligible non-financial corporate assets effective June 15, 2026, to mitigate transition risk uncertainties. It also discontinues eligibility for retail mortgage-backed securities (RMBD) and debt instruments backed by eligible credit claims (DECC), excludes non-performing credit claims from eligible collateral, and updates definitions for internal credit assessment systems and resolution authorities.
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