Portugal governor: banks are stronger now than pre-crisis


The core Tier I ratio of Portuguese banks increased from 8.1% at the end of 2010 to 11.9% in July, Bank of Portugal governor Carlos da Silva Costa said in a speech in London yesterday, touting "more stringent" capital ratios of 9% by the end of 2011 and of 10% by the end of 2012 – "well above the 8% benchmark in the EU legislation".

Costa said major lenders' liquidity positions had also improved. "At the end of 2010, the loan-to-deposit ratio of the Portuguese banking system was around 160%. At

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