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Market practices in Portugal

Name of National Central Bank Banco de Portugal
Collateral management helpdesk Monetary.Policy.Operations@bportugal.pt (operational issues)
Collateral.Management.Helpdesk@bportugal.pt (assets eligibility)
Phone number CCBM unit +351 213 140 312 (operational issues)
+351 213 130 038 (assets eligibility)
Fax number CCBM unit + 351 213 144 691
Foreign counterparties’ contact for credit claim related issues +351 213 140 312 (operational issues)
+351 213 130 038 (assets eligibility)
Publications describing local legal and operational procedures The General Terms and Conditions of the Banco de Portugal are established in Instruction No. 3/2015 and Instruction No. 7/2012 for monetary policy operations and Instruction No. 54/2012 for TARGET2 and intraday credit, which may be found here (only in Portuguese)

Additional Terms and conditions for cross border use of credit claims may be found here.
Legal and procedural aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) Instructions No. 3/2015, 7/2012 and 54/2012.
Banco de Portugal acting as CCB uses repo or financial pledge with transfer as mobilization technique.
Procedural aspects governing a pledge towards NCB and legal documentation used (if applicable) Banco de Portugal acting as HCB uses preferably the financial pledge with transfer as mobilization technique.
Specific procedures governing non-marketable assets

Credit claims are accepted by Banco de Portugal via the establishment of a financial pledge with transfer in favour of Banco de Portugal in accordance with the rules and the Financial Pledge Agreement of Instructions No. 3/2015 and 54/2012. No ex-ante notification is necessary for the validity of credit claims in Portugal (e.g. article 8, n 4, of Decree-Law N 105/2004, of 8 of May 2004).

For detailed information on the mobilization procedures, it is recommended that counterparties contact the Banco de Portugal prior to forwarding the instructions.

Technical Aspects Interbolsa Banco de Portugal
Type of eligible assets held Marketable assets Non-marketable assets
Opening hours Interbolsa participates in T2S and follows the T2S calendar and Business Day schedule 8.00 a.m. to 6.00 p.m. (CET)
Number of settlement cycles per day Real-time settlement n.a.; transactions can be forwarded to Banco de Portugal during opening hours
Account of NCB in the SSS IBLSBGALPTPLXXXSA000000005998888859 (repo)

IBLSBGALPTPLXXXSA000000005996666654 (pledge)
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement Details Trade date
Settlement date
ISIN code
Type of settlement (repo/pledge)
Safe account number
Buyer/Seller (BIC code)
Receiving/Delivering agent (BIC code)
Special Operating Procedures n.a. n.a.
Homepage of SSS www.interbolsa.pt www.bportugal.pt