Regulatory Alerts2022-01-10
Added · Updated
Instruction No. 1/2022
The Bank of Portugal amends Instruction No. 7/2012 to change the reporting frequency of authenticated mortgage-secured credit portfolio lists from monthly to semi-annual, while maintaining monthly detailed file submissions. It introduces specific obligations for counterparties regarding financial pledge registration and authentication terms, and updates data reporting rules to align with the Eurosystem data repository. The amendment establishes mandatory data quality classifications (A1-D4) based on missing data options and mandates the loss of eligibility for portfolios failing to meet minimum compliance standards. These changes apply to financial counterparties mobilizing credit portfolios and take effect the day after publication.