Banks may start paying less periodic contributions to the Resolution Fund (FdR) in 2026, maintaining the contribution to the Deposit Guarantee Fund, according to instruction proposals released today by the Bank of Portugal (BdP).
According to the draft regulation released today, the central bank intends to lower the base rate for the additional periodic contribution to the FdR from 0.049% this year to 0.047% in 2026.
In a justifying note accompanying the document, the central bank notes that the setting of this rate “takes special consideration of the objective of stabilizing” banks’ contributions to “amounts close to 250 million euros” and “the assumption that the product of the contribution on the banking sector in 2026 will correspond to 191.6 million euros” – in line with the current year.
The BdP estimates that setting a base rate of 0.047% will correspond to a total value of additional periodic contributions of between 57.8 and 60.1 million euros for all participating institutions.
The proposal and the justification note are submitted for consultation to the FdR Steering Committee and the Portuguese Banking Association, as they represent the credit institutions that jointly hold the largest volume of deposits.
The FdR was created in 2012 with the mission of providing financial support to the resolution measures applied by the Bank of Portugal, as national resolution authority.
The BdP presented another instruction, this time about contributions to the Deposit Guarantee Fund (FGD), which it intends to maintain at 0.0009% next year, similar to 2025.
In the regulator’s opinion, the setting of the base contribution rate at 0.0009% “is based on the fact that the FGD capitalization level (0.955%) is, with reference to June 30, 2025, above the required capitalization level (0.80%)”.
“Increasing contributory effort is not strictly necessary at the present time”, argues the BdP, in the justification note.
According to currently available data, a base contribution rate of 0.0009% “will result in a total value of contributions of 1.3 to 1.4 million euros for all institutions participating in the FGD”, estimates the regulator.
The FGD serves to reimburse bank customers’ deposits if a bank has difficulties and is unable to do so. Deposits are guaranteed up to 100 thousand euros.
The rate to be applied on the objective base of periodic contributions is fixed annually by BdP instruction until December 15th of the previous year.