Bank of Portugal
Portuguese central bank reshuffles board responsibilities
The appointment of two new board members sees vice-governor Pedro Duarte Neves lose responsibility for prudential supervision in the wake of the central bank’s intervention in BES
Bank of Portugal initiates administrative proceedings against 14 banks in first half of 2014
Throughout the period the Portuguese central bank also issued 357 recommendations 'to require the correction of irregularities and infringements detected'
Bank of Portugal splits failed bank BES in 'clean’ resolution
Portuguese central bank splits troubled lender Banco Espírito Santo into good and bad bank as part of a €4.9 billion rescue
Bank of Portugal shifts research focus after Gaspar review
Portuguese central bank sets new research priorities following a strategic review; internal commission places emphasis on quarterly publication and career development
Structural reforms could get eurozone out of recession, paper shows
Bank of Portugal working paper finds structural economic reforms could get the eurozone out of recession and away from the zero lower bound if designed correctly
Portuguese paper finds banks lend to riskier borrowers when policy rates are low
Researchers find evidence supporting the existence of the ‘risk-taking channel’ of monetary policy; banks will grant more loans to companies with recent defaults when rates are lower
People: Bank of Portugal appoints ‘temporary’ chief economist; Bank of Spain reveals pride in ECB hire
Isabel Horta Correia named head of economics and research ‘under temporary assignment’ at Bank of Portugal; Ramón Quintana praised by Bank of Spain for ECB success
Bank of Portugal fails to fill chief economist vacancy
Board of directors calls off search for a new head of economics and research due to dearth of quality applicants; initiates review for a 'strategic repositioning' of the department
Portugal governor: banks are stronger now than pre-crisis
Bank of Portugal's Carlos da Silva Costa argues stringent capital requirements 'well above the EU 8% benchmark' are starting to pay off; banks' average loan-to-deposit ratio was 123% in June
Portuguese paper presents macroeconomic model for small economies
Researchers at the Bank of Portugal detail the features and applications of the Portuguese Economy Structural Small Open Analytical (Pessoa) model, which they say is useful for small economies in monetary union
Demand for Bank of Portugal online stats grew 51% in 2012
The central bank’s website received more than 55,000 visits last year, with the statistical service offered online and on mobile devices the most popular feature
Fiscal multiplier tends to double in times of crisis, Bank of Portugal paper shows
The paper analyses the size of short-run fiscal multipliers in both normal and crisis times
Portuguese paper questions efficacy of fiscal policy at zero lower bound
Working paper finds that government and private consumption are substitutes when the nominal interest rate is at the zero lower bound; this reduces impact of fiscal policy on output by a third
Portuguese central bank says austerity has hit long-term economic potential
Bank of Portugal annual report finds economy has contracted 7.2% since 2010, thanks to pro-cyclical fiscal contraction that 'may have a long-lasting negative impact on potential growth'
Portugal must strengthen institutions to attract foreign direct investment - working paper
Bank of Portugal researchers call for a focus on corruption and strengthening the independence of the financial system to increase attractiveness for FDI
Bank of Portugal distances itself from anti-trust investigation
Portuguese central bank says investigation into banks' anti-competitive practices will not undermine the stability of the financial sector
Portugal's Costa demands greater European co-ordination
Bank of Portugal governor says individual countries’ adjustment programmes alone are not enough to boost Europe’s growth potential
Bank of Portugal suspends staff holiday pay
Board of directors voluntarily waives own holiday pay and cancels that of its staff; board members also agree to take a pay cut for the fourth consecutive year
Euro periphery financial systems still ‘fragile’, reports show
Irish and Portuguese financial stability reports show financial systems have grown stronger in past year, but weaknesses persist
Bank of Portugal forecasts economic contraction of 1.6% in 2013
The Portuguese inflation rate is expected to fall below 1% as the economy contracts next year
Bank of Portugal paper explores optimal capital structure for businesses
Structure of optimal level of debt a key decision for business, says Bank of Portugal working paper
Bank of Portugal paper revisits asset pricing with a bank risk factor
Bank of Portugal research paper investigates how the banking sector influences the stock returns of non-financial firms
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
Bank of Portugal paper studies public-private sector wage gaps
Bank of Portugal study finds public-sector wage premium in Portugal, Ireland, Greece and Spain were higher than euro area average