Instruction No. 9/2023

Instruction No. 9/2023 BO No. 4/2023 2nd Supplement • 2023/04/27 .................................................................................................................................................................................................. Topics Payment Systems :: Information Elements Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Amendment of Bank of Portugal Instruction No. 19/2012, with a view to implementing the PAY Project Whereas: It is the responsibility of the Bank of Portugal, under the provisions of Article 14 of its Organic Law, to regulate, supervise and promote the proper functioning of payment systems, particularly within the scope of its participation in the European System of Central Banks (ESCB); The production of information on systems, operations and payment instruments constitutes an essential element for the realization of the Bank of Portugal's duties; Under Article 13, paragraph 2, of its Organic Law, the Bank of Portugal may require any entity, public or private, to provide it directly with information, particularly for reasons related to its duties; The current model for reporting information on Payment Systems and Instruments, under Instruction No. 19/2012 of June 15, has been in place for more than 10 years; Since then: (i) The reality of payment service provision has changed significantly (with new participants, new channels, new solutions and new user behaviors); (ii) New reports have emerged, especially from the SICOI processor, which follow distinct formats and are not amenable to automatic integration into the database (ad hoc Excel files); (iii) The report consists of several autonomous pieces of information, which significantly limits the use of the information and makes quality control difficult; (iv) The complexity associated with processing and integrating information into the Bank of Portugal's databases has grown;

Instruction No. 9/2023 BO No. 4/2023 2nd Supplement • 2023/04/27 Topics Payment Systems :: Information Elements .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 (v) Given its timeliness and detail, payment information has assumed a prominent role in the analyses carried out by central banks; and (vi) Relevant regulation has meanwhile entered into force in the context of the Instruction, both European and national, and the Instruction has not been subject to any adjustment in light of this new regulatory framework; There is a real need to evolve the current system for collecting, processing, exploiting and disseminating payment information by the Bank of Portugal, and it is therefore necessary to promote the amendment of Bank of Portugal Instruction No. 19/2012. Thus, the Bank of Portugal, in the exercise of the powers conferred upon it by Articles 13 and 14 of its Organic Law, approved by Law No. 5/98 of January 31, and by the provisions of paragraph 2 of Article 117-B of the RGICSF, approved by Decree-Law No. 298/92 of December 31, as well as by Article 72 of the RJSPME, approves the following Instruction: Article 1. Object This Instruction aims to amend Bank of Portugal Instruction No. 19/2012 (“Instruction No. 19/2012”), which regulates the reporting of Information on Payment Systems and Instruments. Article 2. Amendments to Bank of Portugal Instruction No. 19/2012 1 - Paragraphs 5, 7, 8, 9 and 11 of Bank of Portugal Instruction No. 19/2012 shall have the following wording: «5. Start, periodicity and reporting deadlines 5.1. Prior to the start of reporting under this Instruction, recipients must submit the form made available on the BPnet portal in Payment Systems » PAY – Payment Information » Interlocutors and Services Form. 5.2. […]. 5.3. Recipients identified in paragraph 2.1 of this Instruction must communicate monthly information to the Bank of Portugal, in accordance with the provisions of the Reporting Manuals on Information on Payment Systems and Instruments, no later than the 20th day of the month immediately following that to which the reported data relate. 5.4. Recipients identified in paragraph 2.2 of this Instruction must communicate monthly information to the Bank of Portugal, in accordance with the provisions of the Reporting Manuals on Information on Payment Systems and Instruments, no later than the 10th day of the month immediately following that to which the reported data relate.

Instruction No. 9/2023 BO No. 4/2023 2nd Supplement • 2023/04/27 Topics Payment Systems :: Information Elements .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 5.5. In the case of daily data, recipients must communicate the information to the Bank of Portugal, in accordance with the provisions of the Reporting Manuals on Information on Payment Systems and Instruments, no later than the next business day following that to which the reported data relate.» «7. Communication Model 7.1. The reporting of information will be carried out through the Bank of Portugal's BPnet electronic communication system (regulated by Bank of Portugal Instruction No. 21/2020 of July 15), respecting the structure and requirements defined in the Reporting Manuals on Information on Payment Systems and Instruments. 7.2. […].» «8. Reporting Manuals on information on payment systems and instruments 8.1. […]. 8.2. […]. 8.3. The Reporting Manuals on Information on Payment Systems and Instruments are made available on the BPnet portal (www.bportugal.net).» «9. Revision Policy If revisions are made to information already reported, recipients must resend it, through an additional report, in accordance with the procedures established in the Reporting Manuals on Information on Payment Systems and Instruments.» «11. Appointment of interlocutors 11.1. […]. 11.2. […]. 11.3. The appointment and updating of interlocutor contacts must be carried out through the BPnet portal, as mentioned in paragraph 5.1..» «12. Non-compliance 12.1. […].

Instruction No. 9/2023 BO No. 4/2023 2nd Supplement • 2023/04/27 Topics Payment Systems :: Information Elements .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 12.2. Non-compliance with the other obligations established by this Instruction and in the Manuals that form an integral part thereof constitutes an offense punishable under the provisions of paragraph m) of Article 210 of the RGICSF or paragraph 1 of Article 150 y) of the RJSPME.» 2 – A new paragraph 13 is added to Bank of Portugal Instruction No. 19/2012 with the following wording, and the following paragraph is renumbered: «13. Communications under this Instruction 13.1. Any clarifications regarding the content of this Instruction can be obtained from the Payment Systems Department of the Bank of Portugal, preferably via email: sp.info@bportugal.pt. 13.2. All communications must be drafted in Portuguese or English.» Article 3. Entry into force This Instruction enters into force on the date of its publication, without prejudice to the phased implementation of reporting obligations, as stipulated in the Reporting Manuals on Information on Payment Systems to be published in due course by the Bank of Portugal.