Instruction No. 1/2025

Instruction No. 1/2025
BO No. 1/2025 Supplement • 2025/01/24
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Topics
Supervision :: Prudential Standards
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Article 5.
Text of the Instruction
Subject: Reporting of information on diversity practices, including diversity policies and gender pay disparities at the level of members of administrative and supervisory bodies

On December 18, 2023, the European Banking Authority (EBA) published the "Guidelines on the assessment of diversity practices, including diversity policies and gender pay disparities, under Directive 2013/36/EU and Directive (EU) 2019/2034" (EBA/GL/2023/08). The EBA/GL/2023/08 aim to operationalize and harmonize the information that the EBA and national competent authorities must collect from credit institutions and investment firms to comply with legal obligations arising from the aforementioned Directives.

Considering that:
i. Article 30(7) of the General Regime for Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92 of December 31, as in force (RGICSF), establishes that the Bank of Portugal collects and analyzes information regarding the diversity practices of credit institutions and communicates it to the EBA;
ii. Article 115-G(1)(a)(ii) and (b) and (4) of the RGICSF establishes that the Bank of Portugal collects and analyzes information on the gender pay gap and also submits such information to the EBA;
iii. The EBA/GL/2023/08 are applicable from June 27, 2024;
iv. The Bank of Portugal and the European Central Bank communicated to the EBA their intention to comply with the provisions of the EBA/GL/2023/08;
v. The Securities Market Commission is the entity responsible for collecting and analyzing information regarding the diversity practices of investment firms;

This Instruction aims to regulate the duty, format, and deadline for reporting to the Bank of Portugal information on diversity practices, including diversity policies and gender pay disparities at the level of members of administrative and supervisory bodies, by credit institutions, in light of the EBA/GL/2023/08, establishing that the aforementioned information must be submitted

Instruction No. 1/2025 BO No. 1/2025 Supplement • 2025/01/24 Topics Supervision :: Prudential Standards
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Mod. 99999940/T – 01/14 through the file transfer service of the BPnet system, in the format whose data reporting model is available from version 3.5 of the EBA taxonomy.
The draft of this Instruction was subject to public consultation in accordance with legal provisions.

In this context, the Bank of Portugal, using the powers attributed to it by Articles 30(8) and 115-G(3)(b), combined with the provisions of Articles 30(7) and 115-G(1)(a)(ii) and (b) and (4) of the RGICSF and taking into account the provisions of Article 140(3) of Regulation (EU) No 468/2014 of the European Central Bank of April 16, 2014, which establishes the cooperation framework within the Single Supervisory Mechanism between the European Central Bank and national competent authorities, determines the following:

Article 1.
Object
This Instruction aims to regulate the duty, format, and deadline for reporting to the Bank of Portugal, by credit institutions covered by the reporting duty under the following articles, of information on diversity practices, including diversity policies and gender pay disparities at the level of members of administrative and supervisory bodies of credit institutions.

Article 2.
Scope of Application
By January 31 of the calendar year in which the reporting of information is due, the Bank of Portugal informs credit institutions that will be covered by the reporting duty.

Article 3.
Information to be Reported
1 – Credit institutions covered by the reporting duty provided for in this Instruction submit to the Bank of Portugal the information contained in Annexes I to XI of EBA/GL/2023/08. 2 – The information referred to in the preceding paragraph is reported on an individual basis, in strict compliance with the specifications and filling requirements contained in paragraphs 19 to 43 of EBA/GL/2023/08.

Article 4.
Format, Reference Date, and Reporting Deadline 1 - The information contained in Annexes I to XI of EBA/GL/2023/08 is submitted in the format whose data reporting model is available from version 3.5 of the EBA taxonomy, being reported to the Bank of Portugal through the file transfer service of the BPnet system, regulated by an Instruction of the Bank of Portugal, in strict compliance with the technical specifications available on the Reporting Obligations of supervised institutions tab of the Bank of Portugal institutional website.

Instruction No. 1/2025 BO No. 1/2025 Supplement • 2025/01/24 Topics Supervision :: Prudential Standards
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Mod. 99999940/T – 01/14
2 - The reference date for the information to be submitted by credit institutions covered by the reporting duty corresponds to December 31 of the calendar year preceding the year in which the reporting of information is due. 3 - The information is submitted to the Bank of Portugal by credit institutions covered by the reporting duty, every three years, by April 30 of the calendar year following the year to which the information relates.

Article 5.
Deadline for First Reporting
The first reporting of information to be carried out by credit institutions covered by the reporting duty provided for in this Instruction is sent to the Bank of Portugal by April 30, 2025, with information relating to December 31, 2024.

Article 6.
Entry into Force
This Instruction enters into force on the day following its publication.

January 21, 2025 - The Governor, Mário José Gomes de Freitas Centeno.