Regulatory Alerts2023-01-30
Added · Updated
Instruction No. 1/2023
Instruction No. 1/2023 updates the regulatory framework for Payment Institutions and Electronic Money Institutions by revoking Instructions No. 27/2009 and No. 14/2014. It applies specific prudential and operational rules, including Instructions No. 11/2014 for own funds, No. 7/2008 for credit securitization, and No. 5/2013 for credit impairment assessment. For consumer credit activities, Instructions No. 12/2013, No. 13/2013, and No. 14/2013 remain applicable. Additionally, selected provisions of Instruction No. 18/2020 regarding organizational conduct and internal control are applied, with initial reports due within six months of entry into force.