Regulatory AlertsAdded · Updated
Notice No. 4/2021
The notice regulates the typologies of fixed and mobile branches and introduces a new category of 'branch extensions' characterized by functional and operational dependence on a main branch, limiting each branch to a maximum of five extensions. It mandates that institutions register branch details and extension information with the Bank of Portugal within 30 days of any relevant event, while requiring compliance with anti-money laundering rules and ensuring distinct public service areas in shared spaces. The regulation revokes Instruction No. 100/96 and grants institutions a three-year transition period to adjust their space-sharing models to meet the new requirements.
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