COPE enhancements

Statistics on External Transactions and Positions (COPE) is mandatory for all legal persons who reside or pursue their business in Portugal, conduct external economic or financial transactions or foreign exchange operations, pursuant to the provisions of Decree-Law No 295/2003 of 21 November 2003. External statistics are part of the official statistics produced by Banco de Portugal (Bank of Portugal) and aim to portray Portugal’s relationship with non-residents.

The Auxiliary report for COPE (tfcmg3250m000) session is available to create an auxiliary report for COPE with all transactions listed. Now, this session can also generate an XML according to the Banco de Portugal specifications, by period, and including the distinction between transactions and positions.

A transaction (COPE – Entrada/Saída) is any operation conducted by entities residing in Portugal that originates or extinguishes, fully or partially, external assets or liabilities.
A position (COPE – Posição) is the stock or balance of financial assets or liabilities of Portuguese entities vis-à-vis non-residents. An identifier is assigned in the XML to the end of the month positions. This represents the outstanding amount observed at the end of each month.

If the Create XML file check box is selected, the XML file is generated to the specified path, within the LN server or the client.

The auxiliary report with the full list of transactions, including the transaction type and series, is printed for auditing purposes.