Instruction No. 1/2020

The Bank of Portugal amends Instruction No. 7/2019 to extend its scope to include credit institutions acting as sponsors of ABCP programs under Article 25(4) of Regulation (EU) 2017/2402. This change ensures that the Bank of Portugal supervises the due diligence obligations of these sponsors, reflecting new competencies granted by Law No. 69/2019. The amendment updates Article 2 of the original instruction to specify applicability to less significant credit institutions and qualified investment companies as investors, and to credit institutions acting as sponsors. The instruction enters into force the day following its publication.

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Instruction No. 1/2020
BO No. 1/2020 • 2020/01/15
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Topics
Supervision :: Supervision
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Instruction amending Instruction No. 7/2019, of May 30, which incorporates the EBA Guidelines on the STS criteria applicable to ABCP and non-ABCP securitisation (EBA/GL/2018/08 and EBA/GL/2018/09)

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Lineage: In force

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Amends: Instruction No. 7 dated 2019-05-30not in RegAlert
Issued under: Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/20122017 Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions2013 Lei n.º 5/98, de 31 de Janeiro — Lei Orgânica do Banco de Portugal (Organic Law of the Bank of Portugal)1998Law No. 69 dated 2019-08-28not in RegAlertRegulation No. 298 dated 1992-12-31not in RegAlertRegulation No. 453 dated 1999-11-05not in RegAlert

Source: Banco de Portugal — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works