Instruction No. 5/2026

Instruction No. 5/2026
BO No. 3/2026 2nd Supplement • 2026/04/09
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Topics
Supervision :: Prudential Standards
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Revoking Instruction No. 27/2007

Instruction No. 27/2007 regulated, regarding the need to assess the adequacy of own funds at the financial conglomerate level, Decree-Law No. 145/2006 of July 31, which transposed Directive No. 2002/87/EC of the European Parliament and of the Council of December 16, concerning the supplementary supervision of credit institutions, insurance undertakings and investment firms of a financial conglomerate.

In light of regulatory developments in the sector and in the area of supplementary supervision of financial conglomerates, which have occurred since then at the national and European levels, the content of Instruction No. 27/2007 is no longer aligned with the current regulatory framework and, for this reason, identifying a financial conglomerate would give rise to difficulties in its application.

Additionally, some provisions of Instruction No. 27/2007 no longer produce effects as they have been implicitly repealed due to the approval of subsequent European and sectoral regulation. In this sense, for reasons of clarity and legal certainty, the revocation of Instruction No. 27/2007 is proposed.

Thus, the Bank of Portugal, in the exercise of the powers conferred upon it by Article 99 and Article 120 of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92 of December 31, and by point (c) of paragraph 1 of Article 18 of Decree-Law No. 145/2006 of July 31, and as the coordinator responsible for the exercise of supplementary supervision of groups qualified as financial conglomerates, determines the following:

Article 1.
Revoking Norm
Instruction No. 27/2007 is revoked.

Article 2.
Entry into Force
This Instruction enters into force on the day following its publication.