RegAlert2021-06-21
Added · Updated
Instruction No. 9/2021
The Bank of Portugal amends Instruction No. 5/2017 to align national supervisory reporting requirements with the European Banking Authority’s FINREP taxonomy version 3.0 and EU Regulation 2021/451. The update mandates that credit institutions, financial companies, payment institutions, and electronic money institutions report financial information, own funds, large exposures, and liquidity data using revised templates and specific model codes. It introduces additional reporting obligations for payment institutions and electronic money institutions authorized to grant credit, while removing obsolete frameworks and references to revoked legislation. These changes enter into force on June 30, 2021.
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Instruction No. 9/2021
BO No. 6/2021 Supplement • 2021/06/21
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Topics
Supervision :: Information Elements
Mod. 99999940/T – 01/14
Index
Text of the Instruction
Text of the Instruction
Subject: Update of Bank of Portugal Instruction No. 5/2017 Under Commission Implementing Regulation (EU) 2021/451 of 17 December 2020, financial information for supervisory purposes must be reported according to uniform and standardized requirements. Version 3.0 of that EBA taxonomy, entering into force from June 2021, introduces certain changes to the current financial information reporting models for supervisory purposes (FINREP). These changes, implemented by Commission Implementing Regulation (EU) 2020/429 of 14 February 2020, also imply corresponding updates in Regulation (EU) 2015/534 of the European Central Bank of 17 March 2015. In this context, these updates are now reflected in national regulation. In addition to the updates resulting from European legislation, the Bank of Portugal decided to make three additional changes: the F22.01 and F22.02 tables were removed from Annex I of Instruction No. 5/2017; references to management companies of collective investment undertakings and to management companies of credit securitization funds were removed; and additional information applicable to payment institutions and electronic money institutions authorized to grant credit was also included. Additionally, references to Decree-Law No. 317/2009 contained in this Instruction are redirected to Decree-Law No. 91/2018, following the revocation of the former. This Instruction was subject to public consultation under the terms and for the purposes provided for in Articles 100(3)(c) and 101, both of the Administrative Procedure Code. Thus, the Bank of Portugal, using the powers conferred upon it by Article 17 of its Organic Law, approved by Law No. 5/98 of 31 January, in its current wording, and by the provisions of Article 120(2), Article 121-A(2), Article 122, and Article 123(2), all of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92 of 31 December, in its current wording, approves the following Instruction:
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