Improvements in Portugal's Banking Sector

One of the Directors on the board of Bank of Portugal released a statement on Tuesday citing improvements in the Portuguese financial system. At the same time, Mr. Maximo dos Santos raised points regarding some still unresolved questions such as the sale of Novo Banco and its effect on the Resolution Fund.

Máximo dos Santos noted that despite the improvements, the European banking system still exhibits signs of instability. He specifically referenced the resolution of Banco Popular Espanha in Spain and the Single Resolution Board's recent decisions.

He mentioned that Bank of Portugal has closely monitored the recent rescue of Italian banks Veneto Banca and Banca Popolare di Vicenza. The members of Bank of Portugal will reflect on the lessons of this situation to manage to safeguard its own stability.