Bank of Portugal
Bank of Portugal sells majority share in ‘good bank’
EC permits recapitalisation deal with US investor after lengthy attempts at sale
Bank of Portugal expects stronger growth in 2017
Exports are expected to boost GDP growth to 2.5% in 2017, up from 1.5% in 2016
Portuguese governor clashes with government
Treasury intends to transfer banking resolution competencies out of the central bank
Portuguese government welcomes proposal for new supervisory agency
New agency could take financial oversight and bank rescues away from the central bank
People: Portugal’s central bank appoints new deputy governors
Portuguese board also gains two new members; economist joins RBI board
Portuguese bank seeks legal ruling on resolution fund payouts
BCP concerned by contingent obligations in Novo Banco sale; Portuguese government and financial sector have financed the resolution fund since its creation in 2012
Paper looks at effects of international regulatory reform on Portugal
Tighter standards had different effects on foreign and Portuguese banks – researchers
People: Kristin Forbes to depart BoE; Fed’s general counsel to retire
Monetary policy committee member will leave at end of term; Scott Alvarez to step down from Fed; Bank of Portugal replaces prudential supervision head; and more
Bank of Portugal selects preferred buyer for ‘good bank’
Novo Banco sale process has met with difficulties; US firm Lone Star is named the best-placed bidder
People: Tobias Adrian to replace Viñals at IMF
New York Fed economist to take over IMF’s monetary and capital markets department; Malaysia appoints new financial stability board; vice-chair picked for FinCoNet
People: Sarb gets new comms head; Bulgaria and Portugal welcome new board members
Jabulani Sikhakhane joins South African Reserve Bank; Bank of Bulgaria gets new board member, while Bank of Portugal gets two
People: African department director leaves IMF; Dallas Fed looks for new first VP
Antoinette Sayeh retires from International Monetary Fund; Dallas Fed begins looking for replacement first vice-president; and more
FinCoNet offers regulators chance to advance financial consumer protection – chairman
The association of national financial consumer protection agencies has made progress in supporting reform, but has considerable work ahead, chairman Sheridan says
Bank CEOs’ pay can hit regulation, economist argues
Washington University economist Anjan Thakor argues linking bank chief executives’ pay to returns on equity can have adverse effects on banking regulation
Investors to sue Portuguese central bank over asset writedown
A group of bondholders in a failed bank are bringing a lawsuit against the Portuguese central bank over its writedown of their holdings in a failed commercial bank
Bank of Portugal director responsible for banking supervision resigns
Board member with responsibility for banking supervision resigned on March 7; Antonio Varela had previously been state-appointed non-executive director on troubled bank Banif
Market fears endanger Italian and Portuguese bank sell-offs
Recent measures by the Bank of Portugal, as well as market fears about the quality of Italian banks’ assets, may discourage investors from buying Italian and Portuguese bridge banks
Fewer counterfeit banknotes withdrawn in Portugal in 2015
Statistics released by Bank of Portugal reveal a drop in the number of counterfeits withdrawn from circulation last year; the €20 remains the most frequently faked denomination
ECB welcomes draft Portuguese law on banknote production
Proposals would remove requirement that Bank of Portugal must own 51% of legal entity responsible for banknote production; could pave way for closer co-operation with other NCBs
‘Closed’ nature of eurozone banks increases vulnerability, Portuguese paper says
Commercial banks in the eurozone are more likely to be hit by country-specific shocks compared to US given fewer foreign branches; greater use of asset-backed securities may be a solution
Eurozone policy-makers and researchers puzzled by trends in long-term inflation expectations
Eurozone inflation more strongly influenced by inflation expectations, the ECB notes; two central bank working papers say data shows unexpected changes
Bank of Portugal suspends Banco Novo sale
Portugal's central bank has halted the planned sale of Novo Banco, the good bank created after the collapse of Banco Espirito Santo, citing unsatisfactory bids
Legal assistance cost Bank of Portugal €2 million in 2014
Bank of Portugal reveals €2 million cost of legal assistance with its intervention in BES, an act it describes as ‘an unprecedented effort to safeguard financial stability’
Bank of Portugal initiated administrative proceedings against 25 banks in 2014
Bank of Portugal also concluded 27 administrative offence proceedings during last year, applying fines worth around €0.5 million