Regulatory Alerts2000-10-30
Added
Notice No. 6/2000 of the Bank of Portugal
The Bank of Portugal amends Notice No. 1/93 by adding items 7 and 8 to its annex, establishing that credit institutions and financial companies acting as assignors in securitization operations must hold own funds consistent with the risks assumed. Specifically, these institutions must calculate own fund requirements based on the value they would face if they retained the assigned credits, capped at the sum of assumed commitments and received assets or off-balance sheet elements. This regulation applies to credit institutions and financial companies involved in such securitization transactions.
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