Organisation and structure

Banco de Portugal has its head office in Lisbon, Rua do Comércio, 148. Most of its central services, however, are concentrated in the Portugal Building, on Avenida Almirante Reis. Issuing-related services are located in the Carregado Complex.

Banco de Portugal operates across the country through the Oporto Branch, the Regional Delegations and the Agencies.

Management of Banco de Portugal

According to its Organic Law, the organs of the Bank are the Governor, the Board of Directors, the Board of Auditors and the Advisory Board.
 
The Governor represents and acts on behalf of Banco de Portugal with foreign or international institutions. He chairs the Board of Directors, and is a member of the Governing Council and of the General Council of the European Central Bank.

The Board of Directors is responsible for all the acts required to achieve the purposes assigned to the Bank. It consists of the Governor, one or two Vice-Governors and three to five Directors. Its members are appointed by means of a resolution of the Cabinet, upon proposal of the Finance Minister. They shall be in office for a term of five years, renewable once for an equal term, by means of a resolution of the Cabinet.

The Board of Auditors monitors the business of the Bank and the observance of the laws and regulations applicable thereto and issues its opinion on the budget, the balance sheet, and the annual accounts. It consists of three members appointed by the Finance Minister: the Chairman, with a casting vote, a chartered accountant, and a person of recognised competence in economic matters.

The Advisory Board issues its opinion on the annual report of the Bank and on the matters referred thereto by the Governor or by the Board of Directors.

The Advisory Board is chaired by the Governor of the Bank and consists of the Vice-Governors, the former Governors, the Chairman of the Advisory Board of the Bank, four personalities of a recognised competence in economic, financial and business matters, the Chairman of the Portuguese Association of Banks, the Chairman of the Public Treasury and Government Debt Agency, and a representative of each of the Autonomous Regions of the Azores and Madeira, to be appointed by the competent self-government bodies.