Instruction No. 24/2005: Reporting of Accounting Information by Branches of Credit Institutions Authorised in Other EU Member States

Instructions of Banco de Portugal

Instruction No. 24/2005

SUBJECT: Reporting of accounting information
(Branches of Credit Institutions authorised in other Member States of the European Union)

Banco de Portugal, within the scope of the powers conferred on it by paragraphs 2 and 3 of Article 122 of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92, of 31 December, determines the following:

1. Branches of credit institutions authorised in other Member States of the European Union must send, quarterly, to Banco de Portugal the analytical statements in magnetic media, and are exempt from complying with the accounting standards defined by this Bank. For the purposes of this reporting, the said branches shall transpose their respective accounting information into the media for submission to this Bank, according to the classification in use.

2. During the financial year 2005, the reporting referred to in the previous paragraph may be based on Instruction No. 4/96, published in BNBP No. 1, of 17 June 1996, or Instruction No. 23/2004, published in BO No. 1, of 17 January 2005, and in the first case, an additional report must be sent, with reference to 31 December 2005, in accordance with Instruction No. 23/2004. From the beginning of 2006, reports shall be made in accordance with the model established in Instruction No. 23/2004.

3. Instruction No. 76/96, published in BNBP No. 1, of 17 June 1996, is revoked.

4. This Instruction enters into force on 22 June 2005.