RegAlertRule · BDP · 15 Oct 2007
Instruction No. 24/2007: Contribution rate for the year 2008
Banco de Portugal sets the annual contribution rate to the Deposit Guarantee Fund for 2008 at a base rate of 0.03% for determining each participating institution's contribution, calculated from its average solvency ratio in the previous year. A reduced contribution rate of 0.01% applies to deposits held in the external financial branches of the Madeira and Santa Maria Island free zones.
Instructions of Banco de Portugal
Instruction No. 24/2007
SUBJECT: Contribution rate for the year 2008
Pursuant to the provisions of No. 3 of Notice No. 11/94, of 21 December, published in the Diário da República, II Series (Supplement), of 29 December, as amended by Notice No. 7/2005, the rate of the annual contributions to the Deposit Guarantee Fund shall be set annually by instruction of Banco de Portugal, up to a maximum of 0.2%.
On the other hand, in accordance with No. 4 of that Notice, the contribution rate of each participating institution is calculated based on its average solvency ratio observed in the previous year, in accordance with the brackets determined under No. 5 of the same Notice.
Accordingly, Banco de Portugal, after hearing the Fund's Management Committee and the Portuguese Banking Association, establishes the following to be in force in the year 2008:
1. For the purposes of determining the contribution rate of each participating institution, the base contribution rate is 0.03%.
2. With respect to deposits held in the external financial branches of the Madeira and Santa Maria Island free zones, a reduced contribution rate of 0.01% is set.
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The links and the sentences they come from (2)
- Issued under
- Notice No. 11 dated 1994-12-21Not in RegAlert
“Pursuant to the provisions of No. 3 of Notice No. 11/94, of 21 December, published in the Diário da República, II Series (Supplement), of 29 December, as amended by Notice No. 7/2005”
- Notice No. 7 of 2005Not in RegAlert
“Pursuant to the provisions of No. 3 of Notice No. 11/94, of 21 December, published in the Diário da República, II Series (Supplement), of 29 December, as amended by Notice No. 7/2005”
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