2022-04-20

Added 2026-07-31 · Updated 2026-08-03

Instruction No. 8/2022

The Bank of Portugal amends Article 12(5) of Annex II and Article 15(5) of Annex II-B of Instruction No. 54/2012 to specify that deposits held by national central banks for public administrations are remunerated according to ECB Guideline (EU) 2019/671, rather than the standard zero or deposit facility rate. This change aligns the TARGET2-PT framework with ECB Guideline (EU) 2022/4 to ensure consistent application of monetary policy principles regarding public administration deposits. The amended provisions apply from May 2, 2022.

Portugal

Banco de Portugal

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