Regulatory Alerts2026-08-17
Added · Updated
Instruction No. 6/2026
Bank of Portugal amends Instruction No. 16/2022 to align TARGET-PT with ECB Guidance (EU) 2026/1473, enabling TIPS participants to send and receive payments via the SEPA One-Leg Out Instant Credit Transfer (OCT Inst) mechanism starting November 14, 2026. The amendment introduces automatic liquidity transfers between main cash accounts and dedicated TIPS accounts to manage minimum or maximum limit breaches, effective June 25, 2026, and updates fees for dedicated accounts for real-time gross settlement effective July 1, 2026. It also clarifies eligibility rules for candidates subject to EU restrictive measures and updates operational procedures for immediate payment orders, including rejection criteria based on credit memorandum balance and suspension handling.
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