Regulatory Alerts2020-05-18
Added · Updated
Instruction No. 12/2020
The Bank of Portugal amends Instruction No. 7/2012 to implement temporary monetary policy measures by expanding the eligibility of certain tradable assets and securitized debt instruments as collateral for Eurosystem credit operations. The amendment allows assets issued on or before April 7, 2020, or after that date by eligible issuers, to remain eligible provided they maintain a minimum credit quality level 5 (or level 4 for specific securitized debt) and meet ongoing eligibility criteria. It establishes specific haircuts for these assets based on credit ratings and residual maturity, and clarifies that these provisions are independent of other ECB asset purchase programs.
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