Regulatory Alerts2020-01-15
Added · Updated
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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