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Press Release of Banco de Portugal on the replacement of the Head of the Banking Prudential Supervision Department

Mr Carlos Albuquerque has asked the Board of Directors to terminate his duties as Head of the Banking Prudential Supervision Department, with a view to performing tasks in the financial sector in the future. His request has been accepted, effective 31 January 2017. 

In compliance with the rules of conduct and the corresponding European regulations, Banco de Portugal has imposed a cooling-off period on Mr Albuquerque, during which he may not perform tasks in any financial institution under the supervision of Banco de Portugal and the Single Supervisory Mechanism.

Over the course of this period, Mr Albuquerque will perform external charity work related to over-indebtedness, under secondment.

The Board of Directors of Banco de Portugal has appointed Mr Luís Costa Ferreira as Head of the Banking Prudential Supervision Department, a position he has already occupied in the past. Mr Costa Ferreira will start his duties on 15 February 2017.