Regulatory Alerts2023-03-01
Added · Updated
Instruction No. 6/2023
Bank of Portugal amends Instruction No. 3/2015 to align with the TARGET system consolidation implemented on March 20, 2023, replacing references to TARGET2 with TARGET and TARGET2-PT with TARGET-PT. Counterparties must open specific accounts in the Central Liquidity Management (CLM) system for permanent deposit and liquidity lending facilities, replacing the previous segregated access module. The amendment updates eligibility criteria, operational requirements, and sanction provisions to reflect the new TARGET framework and ECB Guidance 2022/8.
Topics
payments
monetary
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