The central bank plans to reduce the base rate of the additional periodic contribution to the Resolution Fund from 0.049% this year to 0.047% in 2026, as specified in a recently unveiled draft regulation.
In a justificative note accompanying the document, the central bank highlights that setting this rate considers primarily the goal of stabilizing banks’ contributions to values close to 250 million euros, anticipating that the banking sector’s contribution product in 2026 will correspond to 191.6 million euros, aligning with the current year.
The Bank of Portugal (BdP) estimates that setting a base rate of 0.047% will amount to a total value of additional periodic contributions between 57.8 to 60.1 million euros for the participating institutions.
The proposal and justificative note will be submitted to the Directive Commission of the Resolution Fund and the Portuguese Banking Association, representing the credit institutions with the largest volume of deposits collectively.
The Resolution Fund was established in 2012 with the mission of providing financial support for resolution measures applied by the Bank of Portugal, acting as the national resolution authority.
The BdP also presented an instruction regarding contributions to the Deposit Guarantee Fund (FGD), intending to maintain it at 0.0009% for the coming year, similar to 2025.
The regulator believes setting the base contribution rate at 0.0009% is justified by the capitalization level of the FGD (0.955%) being, as of June 30, 2025, above the required capitalization level (0.80%).
“Increasing the contribution effort is not strictly necessary at present,” the BdP states in the justificative note.
According to currently available data, a base contribution rate of 0.0009% will result in total contributions between 1.3 to 1.4 million euros for the FGD participating institutions, the regulator estimates.
The FGD is designed to reimburse bank customers’ deposits if a bank experiences difficulties and cannot do so. Deposits are guaranteed up to 100,000 euros.
The rate applied on the incidence basis of periodic contributions is set annually by a BdP instruction by December 15 of the previous year.
