Notice No. 5/2021

Notice No. 5/2021 Published in: DR, 2nd Series, No. 118, Part E, of 21-06-2021 Mod. 99999939/T – 01/14

Index Text of the Notice

Text of the Notice

Within the scope of 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 the European Banking Authority (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 additional changes. Namely, branches of financial institutions that fall under the regime set out in Article 188 of the General Regime of Credit Institutions and Financial Companies (RGICSF) were included within the scope of the present Notice, under the same reporting scope as branches in Portugal of credit institutions with headquarters abroad.

Furthermore, three additional reporting frames applicable to branches of credit institutions with headquarters in third countries were included. This change will allow consolidating the reporting obligations of these branches and repealing Bank of Portugal Instruction No. 9/99.

The present Notice was subject to public consultation in accordance with and for the purposes provided for in Articles 100, paragraph 3, letter c) and Article 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 paragraph 2 of Article 120, paragraph 2 of Article 121-A, Article 122, and paragraph 2 of Article 123, 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 Notice:

Article 1. Object

Notice No. 5/2021 Mod. 99999939/T – 01/14

The object of this Notice is to amend Notice No. 2/2016 of the Bank of Portugal, 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 of the Bank of Portugal

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

"Article 1. Object and Scope This Notice 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 by the following entities: a) […]; b) […]; c) […]; d) Branches of subsidiaries of credit institutions from European Union Member States, under the terms of Article 188 of the RGICSF."

"Article 2. Reporting of Information 1 – […] 2 – Investment firms, branches in Portugal of credit institutions with headquarters abroad, and branches of subsidiaries of credit institutions from European Union Member States (in accordance with Article 188 of the RGICSF), shall submit to the Bank of Portugal, on an individual basis: a) […]; b) […]. 3 – (…)."

2 – Annex I of Notice No. 2/2016 of the Bank of Portugal 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, relating to the reporting of financial information for supervisory purposes (ECB Regulation (EU) No. 2015/534), as well as the elements provided for in the frames ('model code') F07.01, F12.02, F15.00, F16.02, F16.04, F16.04.1, 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) 2021/451 of 17 December 2020, establishing implementing technical standards with regard to reporting for supervisory purposes by 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) 2021/451). 1-A – Branches of credit institutions with headquarters in third countries shall additionally send the elements provided for in frames F20.01, F20.02 and F20.03, which are contained in Annex III of Commission Implementing Regulation (EU) 2021/451. 2 – […]"

3 – Annex II of Notice No. 2/2016 of the Bank of Portugal shall have the following wording:

"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 ECB Regulation (EU) No. 2015/534, as well as the elements provided for in the frames ('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 Commission Implementing Regulation (EU) 2021/451. 2 – […]. 2-A – Branches of credit institutions with headquarters in third countries shall additionally send the elements provided for in frames F20.01, F20.02 and F20.03, which are contained in Annex III of Commission Implementing Regulation (EU) 2021/451. 3 – […]."

Article 3. Repealing Provision

Instruction No. 9/99 of the Bank of Portugal is repealed.

Article 4. Entry into Force

This Notice enters into force on June 30, 2021.

June 1, 2021. - The Governor, Mário Centeno.