Instruction (Historical) No. 7/2022

Instruction No. 7/2022
BO No. 3/2022 Supplement • 2022/03/24
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Topics
Supervision :: Information Elements
Mod. 99999940/T – 01/14
Index
No table of contents entries found.
Subject: Update of Instruction No. 19/2020
On 2 June 2020, the European Banking Authority (EBA) published the “Guidelines on reporting and disclosure of information on exposures subject to measures applied in response to the COVID-19 crisis” (EBA/GL/2020/07) (hereinafter “Guidelines”)1, applicable from 2 June 2020. 30 June 2020 was established as the first reporting date to the supervisor and disclosure to the market.

Considering the division of responsibilities between the Bank of Portugal, as the national competent authority, and the European Central Bank (ECB), under Council Regulation (EU) No 1024/2013 of 15 October 2013 – which confers specific tasks on the ECB regarding policies relating to the prudential supervision of credit institutions – and under Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 – which establishes the framework for cooperation within the Single Supervisory Mechanism between the ECB and national competent authorities – institutions classified as significant under the aforementioned regulatory framework are excluded from the scope of this Instruction.

On 17 January 2022, the EBA issued a statement2 highlighting, among other aspects, that the Guidelines issued in 2020 continue to apply. However, the EBA highlights that national competent authorities may exercise the flexibilities provided for in the Guidelines, reducing or suspending reporting and disclosure requirements.

In this context, the Bank of Portugal, using the competence attributed to it by Article 17 of its Organic Law, approved by Law No. 5/98 of 31 January, and by the combined provisions of paragraphs 1 and 2 of Article 120 of the General Regime of Credit Institutions and Financial Companies (RGICSF), approved by Decree-Law No. 298/92 of 31 December, in its current wording, approves

1 https://eba.europa.eu/eba-issues-guidelines-address-gaps-reporting-data-and-public-information-context-covid-19 2 EBA confirms the continued application of COVID-19 related reporting and disclosure requirements until further notice | European Banking Authority (europa.eu)

Instruction No. 7/2022 BO No. 3/2022 Supplement • 2022/03/24 Topics Supervision :: Information Elements
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Mod. 99999940/T – 01/14 the following Instruction:

Article 1.
Object
This Instruction aims to amend Bank of Portugal Instruction No. 19/2020, published on 10 July 2020, which regulates the duty to report to the Bank of Portugal information on exposures subject to measures applied in response to the COVID-19 crisis.

Article 2.
Amendments to Bank of Portugal Instruction No. 19/2020 Paragraph 1 of Article 2 of Bank of Portugal Instruction No. 19/2020 shall have the following wording:

“Article 2.
[…]

1. The reports provided for in the Guidelines shall be submitted on a quarterly basis and with regard to all uniform reporting models provided for in Annex 1 of the said Guidelines.
2. […]
3. […]
4. […]
5. […]
6. […]”

Article 3.
Entry into force
This Instruction enters into force on the day following its publication.”