RegAlert2022-09-01
Added · Updated
Instruction No. 14/2022
The Bank of Portugal establishes the maximum annual effective global rates (TAEG) and maximum nominal annual rates (TAN) applicable to consumer credit contracts concluded in the fourth quarter of 2022. These limits apply to specific credit categories including personal credit, education and health financing, vehicle leasing, and credit cards, with TAEG caps ranging from 3.3% to 16.0% and a TAN cap of 16.0% for credit overdrafts. The instruction enters into force on October 1, 2022, and prohibits referring to these maximums as legal rates while preserving contractual freedom within these bounds.
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Instruction No. 14/2022
BO No. 8/2022 Supplement • 2022/09/01
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Topics
Supervision :: Behavioral Supervision
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Disclosure of maximum rates applicable to consumer credit contracts in the 4th quarter of 2022
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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
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