Instruction No. 9/2021

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:

Instruction No. 9/2021 BO No. 6/2021 Supplement • 2021/06/21 Topics Supervision :: Information Elements
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Mod. 99999940/T – 01/14
Article 1.
Object
This Instruction aims to amend Bank of Portugal Instruction No. 5/2017 (“Instruction No. 5/2017”), which regulates the reporting of information for supervisory purposes by certain entities subject to the supervision of the Bank of Portugal.
Article 2.
Amendments to Bank of Portugal Instruction No. 5/2017 1 – Articles 1, 2, 3, 4, 5, 6, 8, and 9 of Bank of Portugal Instruction No. 5/2017 shall henceforth read as follows:

«Article 1.
Object and scope
1 – This Instruction regulates the reporting of information for supervisory purposes, on an individual basis, to be submitted by the following entities:
a) […] b) Financial companies, with the exception of investment firms; c) […] d) […] e) […] 2 – […]»

«Article 2.
Financial information
Entities within the scope of this Instruction prepare, on an individual basis, the financial information provided for in Annex I to this Instruction, which forms an integral part thereof.»

«Article 3.
Information on own funds and own funds requirements Savings banks, financial companies (with the exception of investment firms), payment institutions, electronic money institutions, and branches of financial institutions with their head office abroad prepare, on an individual basis, the information on own funds and own funds requirements provided for in Annex II to this Instruction, which forms an integral part thereof.»

Instruction No. 9/2021 BO No. 6/2021 Supplement • 2021/06/21 Topics Supervision :: Information Elements
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Mod. 99999940/T – 01/14

«Article 4.
Information on losses arising from loans secured by real estate Savings banks and entities covered by Article 1 of Bank of Portugal Notice No. 11/2014 prepare, on an individual basis, the information on losses arising from loans secured by real estate provided for in Annex III to this Instruction, which forms an integral part thereof.»

«Article 5.
Information on large exposures
Savings banks, entities covered by Article 1 of Bank of Portugal Notice No. 11/2014, and payment institutions and electronic money institutions authorized to grant credit prepare, on an individual basis, the information on large exposures provided for in Annex IV to this Instruction, which forms an integral part thereof.»

«Article 6.
Information on liquidity
Savings banks prepare, on an individual basis, the information on liquidity provided for in Annex V to this Instruction, which forms an integral part thereof.»

«Article 8.
Completion, communication, and submission format 1 – Annexes I to V define the structure and characteristics of the information to be communicated to the Bank of Portugal, and must be completed:
a) […]; b) […].
2 – […].»

«Article 9.
Reporting frequency
1 – […]
2 – The information must be submitted to the Bank of Portugal by the 12th of May, 11th of August, 11th of November, and 11th of February, for each quarter of the year, respectively.
3 – […]
4 – Currency exchange agencies prepare the information on an annual basis, and it must be submitted to the Bank of Portugal by the 11th of February.

Instruction No. 9/2021 BO No. 6/2021 Supplement • 2021/06/21 Topics Supervision :: Information Elements
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Mod. 99999940/T – 01/14

5 – […]
6 – […]
7 – […]»

2 – Annexes I and II of Bank of Portugal Instruction No. 5/2017 shall henceforth read as follows:

«Annex I – Financial Information
1 – The information prepared must include the elements provided for in Annex II of Regulation (EU) No. 2015/534 of the European Central Bank of 17 March 2015, relating to the reporting of financial information for supervisory purposes (Report of simplified financial information for supervisory purposes), as well as the elements provided for in the tables (“model code”) F09.02, F12.02, F13.01, F13.02.1, F13.03.1, F16.04.1, F31.01, F31.02, and F44.04, which are contained in Annex III of Implementing Regulation (EU) 2021/451 (Reporting of financial information in accordance with IFRS), and their completion must be carried out in accordance with the instructions contained in Annex V of this Regulation. 2 – The information prepared by payment institutions that carry out activities other than payment services, as provided for in Article 13(2)(d) of Decree-Law No. 91/2018 of 12 November, in its current wording (Decree-Law No. 91/2018), must additionally include the elements provided for in the tables (“model code”) F01.01, F01.02, F01.03, and F02.00, which are contained in Annex III of Implementing Regulation (EU) 2021/451, with respect to the activities carried out under that provision, and their completion must be carried out in accordance with the instructions contained in Annex V of this Regulation. 3 – […] 4 – […] 5 – Payment institutions and electronic money institutions authorized to grant credit, as provided for in Article 13(2)(c) of Decree-Law No. 91/2018 of 12 November, in its current wording (Decree-Law No. 91/2018), must additionally report the elements provided for in table F07.01, which is contained in Annex III of Implementing Regulation (EU) 2021/451 (Reporting of financial information in accordance with IFRS), and their completion must be carried out in accordance with the instructions contained in Annex V of this Regulation.»

«Annex II – Information on own funds and own funds requirements 1 – […].
2 – […].
3 – […].

Instruction No. 9/2021 BO No. 6/2021 Supplement • 2021/06/21 Topics Supervision :: Information Elements
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Mod. 99999940/T – 01/14

4 – […].
5 – […].
6 – […].
7 – […].
8 – The information prepared by payment institutions and electronic money institutions authorized to grant credit, as provided for in Article 13(2)(c) of Decree-Law No. 91/2018 of 12 November, in its current wording (Decree-Law No. 91/2018), must additionally include the elements provided for in the tables (“model code”) C07.00, C09.01, and C09.04, which are contained in Annex I of Implementing Regulation (EU) 2021/451, and their completion must be carried out in accordance with the instructions contained in Annex II of this Regulation.»

Article 3.
Entry into force
This Instruction enters into force on 30 June 2021.