Instruction No. 7/2026

Instruction No. 7/2026 BO No. 8/2026 Supplement • 26-08-2026 .................................................................................................................................................................................................. Topics Supervision :: Prudential Standards Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Revocation of Instruction No. 28/2018

Instruction No. 28/2018 implemented in the national legal order, for less significant credit institutions, the Guidelines of the European Banking Authority (EBA) on the concept of connected clients, established in point 39 of paragraph 1 of Article 4 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions ('CRR'), designated as 'EBA/GL/2017/15'.

These Guidelines, published on 23 February 2018, clarify, within the framework of the large exposures regime under the CRR, the control requirements, economic interdependence, and the relationship between both, to assess the existence of clients or groups of clients connected to each other that constitute a single entity from a risk perspective.

Under the mandate conferred upon it by paragraph 4 of Article 4 of the CRR, added in June 2019 by CRR2, the EBA developed a draft regulatory technical standard to specify the circumstances in which the conditions are met to identify a 'group of connected clients' in accordance with the aforementioned point 39 of paragraph 1 of Article 4 of the CRR. Subsequently, Delegated Regulation (EU) 2024/1728 of the Commission of 6 December 2023 was published.

The aforementioned Delegated Regulation, directly applicable in Member States, came to regulate a significant part of the content of EBA Guidelines GL/2017/15.

On 29 April 2026, the EBA published Decision EBA/DC/644, relating to the partial elimination of sections 4, 6, and 7 of the Guidelines.

Considering that the content of Banco de Portugal Instruction No. 28/2018 no longer appears consistent with regulatory developments at the European and national levels, for reasons of legal certainty and security, Instruction No. 28/2018 is expressly revoked.

Thus, Banco de Portugal, using the powers conferred upon it by Article 17 of its Organic Law and by point (f) of paragraph 1 of Article 116 of the General Regime of Credit Institutions and Financial Companies, approves the following Instruction:

Instruction No. 7/2026 BO No. 8/2026 Supplement • 26-08-2026 Topics Supervision :: Prudential Standards .................................................................................................................................................................................................. Mod. 99999940/T – 01/14

Article 1. Revocation Clause Instruction No. 28/2018 is revoked.

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