RegAlert2023-01-30
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.
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Instruction No. 1/2023
BO No. 1/2023 Supplement • 2023/01/30
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Topics
Supervision :: Prudential Standards
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Regulatory framework applicable to Payment Institutions and Electronic Money Institutions
Decree-Law No. 317/2009, of October 30, which approved the legal regime regarding access to the activity of payment institutions and the provision of payment services, transposed into the internal legal order Directive No. 2007/64/EC of the European Parliament and of the Council, of November 13, regarding payment services in the internal market. During the validity of that legal regime, it was necessary to define the regulatory framework applicable to payment institutions, a need that was at the origin of Bank of Portugal Notice No. 10/2009 and Bank of Portugal Instruction No. 27/2009.
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Lineage: In force
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