Regulatory Alerts2022-01-10
Added · Updated
Instruction No. 2/2022
The Bank of Portugal amends Annex XIV, Section 4 of Instruction No. 3/2015 to update the reporting model for external auditors certifying credit rights procedures and systems. The revised requirements mandate that initial ex-ante certification occur before the first mobilization of credit rights, with subsequent certifications required at least every five years. External auditors must validate internal system reliability, data accuracy, eligibility criteria, timely updates, unique identification, and historical archiving for a minimum of ten years using credit right samples. This instruction enters into force the day following its publication.
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