Regulatory Alerts2026-03-26
Added · Updated
Instruction No. 4/2026
Bank of Portugal amends Instruction No. 3/2015 to implement ECB Guidelines (EU) 2026/689, 2026/690, and 2026/692, introducing a climate factor to adjust the haircuts of eligible tradable assets issued by certain non-financial companies starting June 15, 2026. The instruction discontinues the eligibility of retail mortgage-backed securities (RMBS) and debt instruments backed by eligible credit claims (DECC) for Eurosystem credit operations, excludes non-performing credit claims, and updates definitions for credit assessment systems and residual value risk. It also clarifies eligibility criteria for international debt instruments, variable rate coupons, and counterparties under open bank resolution strategies.