Instruction (Historical) No. 5/2020

Instruction No. 5/2020
BO No. 2/2020 • 2020/02/17
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Topics
Payment Systems :: Information Elements
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Reporting of information on payment systems and instruments This Instruction aims to revise Instruction No. 19/2012, of June 15 (BO No. 6, 15.06.2012), regarding the reporting of information on payment systems and instruments, in order to i) incorporate the necessary changes to comply with the provisions of the new Legal Regime of Payment Services and Electronic Money (RJSPME), approved in annex to Decree-Law No. 91/2018, of November 12, which transposed into the Portuguese legal order the Revised Payment Services Directive (DSP2) and, likewise, the EBA/GL/2018/05 Guidelines of the EBA regarding data reporting requirements on fraud; ii) establish a maximum deadline for sending revisions to reported data; and iii) clarify the penalties in case of non-compliance. In this context, in the exercise of the powers conferred upon it by Articles 13 and 14 of its Organic Law, and specified, notably, in the separate instruments mentioned, the Bank of Portugal alters the articles of Instruction No. 19/2012, of June 15, determining the following:

1. Paragraph 1 of Instruction No. 19/2012 shall have the following wording:
   «1. Subject
   1.1. This Instruction aims to regulate the reporting, to the Bank of Portugal, of information on payment systems and instruments, including information related to fraud.
   1.2. The reporting of severe incidents related to the provision of payment services is not the subject of this Instruction, being contained in autonomous regulation of the Bank of Portugal.»

2. Paragraph 2 of Instruction No. 19/2012 shall have the following wording:
   «2. Recipients
   2.1. The recipients of this Instruction are the payment service providers identified in paragraph 1 of Article 11 of the RJSPME:
   a) Credit institutions with headquarters in Portugal, with the exception provided for in paragraph 2.3; b) Payment institutions with headquarters in Portugal, with the exception provided for in paragraph 2.3; c) Electronic money institutions with headquarters in Portugal, with the exception provided for in paragraph 2.3; d) Financial companies with headquarters in Portugal whose object includes the exercise of that activity, with the exception provided for in paragraph 2.3; e) Branches of credit institutions with headquarters outside Portugal; f) Branches of payment institutions with headquarters in another Member State that provide services in Portugal; g) Branches of electronic money institutions with headquarters outside Portugal; h) Postal giro institutions authorized by national law to provide payment services; i) The State, the Autonomous Regions, and the services and bodies of the direct and indirect state administration, when not acting in the exercise of public authority powers; j) The Bank of Portugal, when not acting in the capacity of monetary authority or in the exercise of public authority powers.
   2.2. Also recipients of this Instruction are the relevant companies for payment systems subject to the supervision of the Bank of Portugal, referred to in Article 117-B of the RGICSF.
   2.3. Not recipients of this Instruction are the branches of payment service providers with headquarters in Portugal providing services in another Member State and payment service providers with headquarters in another Member State legally authorized to exercise activity in Portugal under the regime of free provision of services.
   2.4. Payment service providers that exclusively provide account information services are not recipients of the provisions of this Instruction regarding the reporting of information related to fraud.»

3. A new paragraph 3 is added to Instruction No. 19/2012, with the following wording, with the following paragraphs being renumbered:
   «3. Delegation of information reporting to third parties
   3.1. The recipients of this Instruction may request authorization from the Bank of Portugal to delegate the reporting of information to third parties, which may be entities of the same group or other entities.
   3.2. The delegation of reporting to third parties may only begin after communication of authorization from the Bank of Portugal to the recipient who requested it.
   3.3. The responsibility for the correction and updating of the information reported to the Bank of Portugal, in compliance with the provisions of this Instruction, lies with the recipients, even if, under the provisions of this paragraph, the information is reported to the Bank of Portugal by third parties.

4. The renumbered paragraph 4 of Instruction No. 19/2012 (previous paragraph 3) shall have the following wording:
   «4. Information to be reported
   4.1. Recipients are obliged to report to the Bank of Portugal, notably, quantitative information on:
   a) Payment instruments made available and payment transactions processed, regardless of the system, mechanism, or functionality used; b) Payment accounts held by payment service users, payment cards issued, and payment terminals existing; c) Fraud related to the different payment instruments.
   4.2. The reporting requirements and technical communication details are contained in the Manuals on Reporting of Information on Payment Systems and Instruments, referred to in paragraph 8 of this Instruction, which are considered an integral part of it.»

5. The renumbered paragraph 5 of Instruction No. 19/2012 (previous paragraph 4) shall have the following wording:
   «5. Start, periodicity, and reporting deadlines
   5.1. Prior to the start of reporting under this Instruction, recipients must send to the Bank of Portugal the form “Interlocutors and services provided”, annexed to the Manuals on Reporting of Information on Payment Systems and Instruments, via the email address sp.info@bportugal.pt.
   5.2. The information mentioned in paragraph 4.1 has a reporting periodicity of daily or monthly, as specified in the Manuals on Reporting of Information on Payment Systems and Instruments.
   5.3. Recipients identified in paragraph 2.1 of this Instruction must communicate the information to the Bank of Portugal, as defined in the Manuals on Reporting of Information on Payment Systems and Instruments, at the latest by the 20th day of the month immediately following that to which the reported data relate.
   5.4. Recipients identified in paragraph 2.2 of this Instruction must communicate the information to the Bank of Portugal, as defined in the Manuals on Reporting of Information on Payment Systems and Instruments, at the latest by the 10th day of the month immediately following that to which the reported data relate, in the case of monthly data, and at the latest by the day following that to which the reported data relate, in the case of daily data.»

6. The renumbered paragraph 7 of Instruction No. 19/2012 (previous paragraph 6) shall have the following wording:
   «7. Communication model
   7.1. The reporting of information will be carried out through the BPnet electronic communication system of the Bank of Portugal (regulated by Instruction No. 5/2016, of April 15), respecting the structure defined in the XML Data Schema, contained in the Manuals on Reporting of Information on Payment Systems and Instruments.
   7.2. In exceptional and duly justified cases, where the procedure to be observed in sending the information, as described above, is not feasible, the reporting files must be sent on electronic media to be agreed with the Payment Systems Department of the Bank of Portugal.»

7. The renumbered paragraph 9 of Instruction No. 19/2012 (previous paragraph 8) shall have the following wording:
   «9. Revision policy
   9.1. Until the reporting deadline referred to in paragraph 5, recipients may proceed to revise already reported information, through an additional report that will include, in addition to the altered information, all other information contained in the altered instrument(s).
   9.2. Any revision that exceeds the deadline stipulated in paragraph 5 must be justified in writing, on the same day of sending the file(s) with the revised data, and it is mandatory that this justification clarifies duly and objectively the reasons that originated the revision. This revision must occur within a maximum period of one year after the date to which the report relates.»

8. The previous paragraph 9 is renumbered to 10, and paragraph 10.2 of Instruction No. 19/2012 (previous paragraph 9.2) shall have the following wording:
   «10.2. The accuracy of the reported information is assessed, notably, through the cross-referencing of the information reported by recipients and tests and analyses carried out by the Bank of Portugal.»

9. The renumbered paragraph 11 of Instruction No. 19/2012 (previous paragraph 10) shall have the following wording:
   «11. Appointment of interlocutors
   11.1. Recipients must appoint interlocutors authorized to answer any doubts and provide clarifications related to the information sent, who will be designated as “Interlocutors for Reporting of Information on Payment Systems and Instruments”.
   11.2. Two interlocutors must be indicated, one primary and one alternate, and recipients may also proceed to the appointment of substitutes (definitive or temporary), in order to guarantee an adequate and permanent response to questions raised by the Bank of Portugal.
   11.3. The appointment and updating of the names and contacts of interlocutors must be carried out through the form mentioned in paragraph 5.1, which must be sent to the email sp.info@bportugal.pt.»

10. Paragraphs 11 and 12 of Instruction No. 19/2012, now amended, are deleted.

11. A new paragraph 12 is added to Instruction No. 19/2012 with the following wording:
    «12. Non-compliance
    12.1. The omission of information and communications to the Bank of Portugal, within the deadlines established in this Instruction and the Manuals that form an integral part of it, and the provision of incomplete information, constitute an infraction punishable under the provisions of paragraph i) of Article 210 of the RGICSF or paragraph 1 of Article 150 v) of the RJSPME.
    12.2. Non-compliance with the other obligations established by this Instruction and the Manuals that form an integral part of it constitutes an infraction punishable under the provisions of paragraph m) of Article 210 of the RGICSF or paragraph 1 of Article 150 y) of the RJSPME.»

12. Occurrences of ‘Bank’ in the renumbered paragraphs 8.2, 10.3, and 10.4 of Instruction No. 19/2012 shall be replaced by occurrences of ‘Bank of Portugal’.

13. This Instruction enters into force on the date of its publication.