Instruction No. 32/2020 (Historical)

Instruction No. 32/2020
BO No. 12/2020 Supplement • 2020/12/18
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Topics
Resolution Fund :: Contributions
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Resolution Fund – Determination of the base rate of the additional periodic contribution for the year 2021

Considering that, pursuant to paragraph 5 of Article 14 of Law No. 23-A/2015 of March 26, without prejudice to the periodic contributions due under the provisions of Article 153-H of the General Regime of Credit Institutions and Financial Companies, additional periodic contributions may also be levied to the Resolution Fund to enable the fulfillment of obligations assumed, or to be assumed, by the Resolution Fund by virtue of the provision of financial support to resolution measures applied until December 31, 2014, to which the regime provided for in Decree-Law No. 24/2013 of February 19 applies, with the necessary adaptations;

Considering further that, pursuant to paragraph 2 of Article 11 of Decree-Law No. 24/2013 of February 19 and paragraph 3 of Article 2 of Bank of Portugal Notice No. 1/2013 of March 26, the rate to be applied to the objective tax base of the periodic contributions is fixed annually in a Bank of Portugal Instruction;

The Bank of Portugal, using the competence attributed to it by paragraph 2 of Article 11 of Decree-Law No. 24/2013 of February 19 and by paragraph 3 of Article 2 of Bank of Portugal Notice No. 1/2013, after hearing the Directive Commission of the Resolution Fund and the Portuguese Bank Association, as the association that in Portugal represents the institutions participating in the Resolution Fund that, collectively, hold the largest volume of deposits, determines the following:

Instruction No. 32/2020 BO No. 12/2020 Supplement • 2020/12/18 Topics Resolution Fund :: Contributions
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Mod. 99999940/T – 01/14

Article 1.
Base Rate
The base rate to be in force in 2021 for the determination of the additional periodic contributions to the Resolution Fund is 0.060%.

Article 2.
Entry into Force
This Instruction enters into force on January 1, 2021.