Regulatory Alerts2022-01-10
Added
Instruction No. 1/2022
The Bank of Portugal amends Instruction No. 7/2012 to change the frequency of submitting authenticated lists of mortgage-backed credit rights portfolios from monthly to semi-annually, while maintaining monthly detailed data files and declarations. The revision introduces clarifications on reporting obligations, including a mandatory minimum data quality classification of A1 assigned by the Eurosystem data repository, with specific 'No Data' options and a scoring matrix for non-compliance leading to portfolio ineligibility. Counterparties are required to update authenticated documents semi-annually and submit monthly files confirming effective credit conditions and approved PD/LGD models. These changes take effect the day following publication.
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