Regulatory Alerts2020-01-01
Added · Updated
Notice No. 2/2020
This Notice regulates the information duties that financial institutions must observe towards clients regarding public and private moratoria on credit operations established in response to the COVID-19 pandemic. Institutions are required to clearly disclose moratorium details, including eligibility, application processes, and financial impacts, through prominent locations, websites, and direct communication channels. The regulation mandates that institutions inform clients of the acceptance or rejection of their moratorium requests and notify guarantors of any impacts on their guarantees. These information obligations apply to credit operations covered by the public moratorium under Decree-Law No. 10-J/2020 and private moratoria aligned with EBA guidelines.
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