Notice No. 4/2020

Notice No. 4/2020
Published in: DR, 2nd Series, No. 137, Part E, of 16-07-2020 Mod. 99999939/T – 01/14

Notice

Within the framework of Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014, financial information for supervisory purposes must be reported according to uniform and standardized requirements. Version 2.9 of the taxonomy of the European Banking Authority (EBA), which entered into force gradually from December 2019, introduces various changes and additions 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 motivated changes to Regulation (EU) 2015/534 of the European Central Bank of 17 March 2015. In this context, it is necessary to reflect these updates in national regulation.

In addition to the necessary changes arising from European legislation, the Bank of Portugal decided to simplify the wording of the Notice and add some important reporting models in the context of the business model of certain supervised entities.

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 Article 120(2) 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 Notice:

Article 1.
Object
This Notice aims to amend Notice No. 2/2016 of the Bank of Portugal of 1 April 2016 (“Notice No. 2/2016”), which regulates the reporting of financial information, on an individual basis, for supervisory, statistical, and macroprudential risk analysis purposes, to be submitted to the Bank of Portugal.

Article 2.
Amendments to Notice No. 2/2016

1 – Articles 2 and 4 of Notice No. 2/2016 shall have the following wording:

“Article 2.
Reporting of information

1. Credit institutions, with the exception of attached savings banks, shall submit to the Bank of Portugal, on an individual basis:
   a) When their total assets are, for at least four consecutive quarters, equal to or greater than 1,000 million euros, and when not included in a group subject to consolidated supervision, the elements provided for in Annex III of Commission Implementing Regulation (EU) No 680/2014; b) When the total assets are, for at least three consecutive quarters, less than 1,000 million euros, or when included in a group subject to consolidated supervision, the elements provided for in Annex I to this Notice, which forms an integral part thereof.
2. […]
3. For the purposes of the provisions of points (a) and (b) of paragraphs 1 and 2 above, in cases where the entity's assets have not remained above or below the defined thresholds for four or three consecutive quarters, respectively, the reference for the constitution of the reporting obligation shall be the total assets in the last quarter of activity, for established entities, or at the date of commencement of activity, in the case of new entities.”

“Article 4.
Reporting Periodicity
1 - The reporting of information is submitted to the Bank of Portugal with a quarterly periodicity, by the 12th of May, 11th of August, 11th of November, and 11th of February for each quarter of the year, respectively.
2 - [revoked]
3- […].”

2 – Annexes I and II of Notice No. 2/2016 shall have the following wording:

“Annex I
1 - In compliance with paragraphs 1 and 2 of Article 2 of this Notice, entities shall send the elements provided for in Annex I of Regulation (EU) No 2015/534 of the European Central Bank of 17 March 2015, on the reporting of financial information for supervisory purposes (ECB Regulation (EU) No 2015/534), as well as the elements provided for in the tables (“model code”) F07.01, F12.02, F15.00, F16.02, F16.04, F16.04.01, F16.05, F16.06, F16.07, F16.08, F22.01, F22.02, F30.01, F30.02, F31.01, F31.02 and F44.04, which are contained in Annex III of Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014, establishing implementing technical standards with regard to reporting for supervisory purposes of institutions in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 (Commission Implementing Regulation (EU) No 680/2014). 2 - […]

Annex II
1 - In compliance with paragraph 2 of Article 2 of this Notice, entities shall send the elements provided for in Annex II of Regulation (EU) No 2015/534 of the ECB, as well as the elements provided for in the tables (“model code”) F09.02, F12.02, F13.01, F13.02.1, F13.03.1, F16.04.01, F31.01, F31.02 and F44.04, which are contained in Annex III of Commission Implementing Regulation (EU) No 680/2014. 2 - Investment companies that are asset management companies within the meaning of Article 1(1) of Decree-Law No. 163/94 of 4 June (with the amendments introduced by Decree-Law No. 17/97 of 21 January and Decree-Law No. 99/98 of 21 April) shall additionally send the elements provided for in table F 22.02, which are contained in Annex III of Commission Implementing Regulation (EU) No 680/2014. 3 - The completion of the models follows the instructions contained in Annex V of Commission Implementing Regulation (EU) No 680/2014.”

Article 3.
Repealing Provision
Article 5 of Notice No. 2/2016 is repealed.

Article 4.
Entry into Force
This Notice enters into force on the day following its publication.

7 July 2020. – The Governor, Carlos da Silva Costa.