Regulatory Alerts2026-08-17
Added · Updated
Instruction No. 6/2026: TARGET-PT Regulation
This instruction amends Bank of Portugal Instruction No. 16/2022 to implement ECB Guideline (EU) 2026/1473, introducing the SEPA One-Leg Out Instant Credit Transfer (OCT Inst) mechanism for TARGET instant payment settlement (TIPS) participants from November 14, 2026. It also establishes a liquidity management facility, effective June 25, 2026, enabling automatic liquidity transfers between Main Cash Accounts and TIPS Dedicated Cash Accounts based on participant-defined limits. Additionally, it alters fees for Real-Time Gross Settlement Dedicated Cash Account holders from July 1, 2026, and clarifies eligibility rules for applicants subject to EU restrictive measures, affecting credit institutions, NCBs, and the ECB participating in TARGET-PT.
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