Regulatory Alerts2023-01-30
Added
Instruction No. 1/2023
This Instruction updates the regulatory framework for Payment Institutions and Electronic Money Institutions by revoking Instructions No. 27/2009 and No. 14/2014. It applies a selected set of existing Bank of Portugal Instructions to these entities, including prudential rules under Regulation (EU) 575/2013, credit impairment reporting under Instruction No. 5/2013, and organizational conduct and internal control duties under Instruction No. 18/2020. The first report under Instruction No. 18/2020 is due within six months of entry into force, with subsequent annual reports due by December 31.
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