Regulatory Alerts2022-03-09
Added · Updated
Instruction No. 6/2022
The Banco de Portugal revokes Instruction No. 13/2020, which previously mandated regular reporting on the implementation of public and private moratoria established in response to the COVID-19 pandemic. This revocation takes effect the day following the publication of the current instruction, as the underlying support measures have expired.
Instruction No. 6/2022 Official Gazette No. 2/2022 3rd Supplement • 2022/03/09 .................................................................................................................................................................................................. Topics Supervision :: Behavioral Supervision Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Revocation of Banco de Portugal Instruction No. 13/2020
Instruction No. 13/2020 established the obligation to report regularly to the Banco de Portugal on the implementation of the public moratorium created by Decree-Law No. 10-J/2020 of March 26, and of private moratoria designed to address the impact of the COVID-19 pandemic on families and businesses.
Given the end of the period of application of the support measures in question, the purposes underlying the reporting duty provided for in the aforementioned Instruction have ceased, which is why the Banco de Portugal deems it appropriate to proceed with its revocation.
Thus, in exercise of the powers conferred upon it by Article 17 of its Organic Law, approved by Law No. 5/98 of January 31, and by Article 120 of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92 of December 31, the Banco de Portugal determines the following:
Article 1. Revocation Clause Banco de Portugal Instruction No. 13/2020, published in the Official Gazette on May 21, 2020, as amended by Banco de Portugal Instruction No. 23/2020, published in the Official Gazette on August 27, is hereby revoked.
Article 2. Entry into Force This Instruction enters into force on the day following its publication.