Regulatory Alerts2023-02-24
Added
Instruction No. 2/2023 on the Opening and Operation of Euro Demand Deposit Accounts at the Bank of Portugal
The Bank of Portugal establishes the rules for opening and operating euro demand deposit accounts for Central Bank Clients, replacing Instruction No. 2/2009. Eligible entities include non-euro central banks, EU treasury departments, public sector entities, and those ineligible for TARGET-PT participation. The instruction mandates account management via the SLIM system through the BPnet portal, sets operating hours from 08:00 to 17:00, and defines fees including a monthly fixed rate of 43 euros and a transaction fee of 0.007 euros. It also outlines operational requirements, contingency procedures, liability limitations, and dispute resolution via arbitration in Lisbon.
More like this from BDP
We email you every new BDP publication the day it's published.