Amendment to Securitisation Framework enters into Force in Portugal

Law no. 69/2019 of 28 August has now entered into force, implementing the changes to the Portuguese securitisation framework following approval of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 (“Securitisation Regulation”). 

This law has now amended the Portuguese Securitisation Law approved by Law no. 453/99 of 5 November (“Securitisation Law”), as well as the Portuguese Securities Code, to now provide rules expressly contemplating the newly distinguished categories of traditional securitisations, simple transparent and standardized (“STS”) and non-STS transactions, as well as synthetic securitisations, in accordance with the Securitisation Regulation.