11/30/2021 | Press release | Distributed by Public on 11/30/2021 11:05
*LEI (Legal Entity Identifier)
The decision was made by deliberation of the Board of Directors on 26 October 2021, having notified the European Central Bank, which did not object to the Banco de Portugal's proposal, and following consultation of the National Council of Financial Supervisors.
The decision on the O-SII buffer is reviewed at least annually. The Banco de Portugal will continue to monitor any developments in the Portuguese banking system and, if appropriate, may review the phase-in period and/or the O-SII buffer rate at any time.
The decision now taken does not compromise the ability of the credit institutions concerned to finance the economy nor their ability to absorb losses arising from the pandemic crisis.