The Bank de Portugal issued a statement announcing the beginning of the procedure to amend Instruction no. 17/2018, which regulates the communication to Banco de Portugal of liabilities arising from credit operations.

The intended amendment of Instruction no. 17/2018 aims to incorporate the following three additional variables in the communication to the Credit Responsibility Center (CRC), thus allowing the collection of information necessary to enhance the behavioural supervision and risk analysis by the Bank of Portugal:

  1. nominal annual rate (TAN) defined at the time of the contract;
  2. the value of the asset acquired in relation to financial leasing and long-term rental (ALD) contracts, and
  3. the postal code of the real estate assets that serve as collateral for credit contracts, necessary for risk analysis.

Interest parties in this amendment procedure should register as such by sending a message to the email address [email protected], with the subject “Amendment Instruction 17/2018” by March 20th 2024.

The Banco de Portugal’s announcement is available here.