Statute of the Banco de Portugal
Pursuant to its Statute, the Banco de Portugal, as the central bank of the Portuguese Republic, is an integral part of the European System of Central Banks (ESCB).
In this capacity, the Banco de Portugal pursues the objectives and participates in the performance of the tasks entrusted to the ESCB and is subject to the provisions of the Statute of the ESCB and of the European Central Bank (ECB), acting in accordance with the guidelines and instructions of the ECB, pursuant to the ESCB/ECB Statute.
The Statute of the Banco de Portugal establishes the nature, head office and tasks of the Bank, its capital, reserves and provisions, its responsibilities and competences as issuer of euro banknotes and coins, in addition to other central bank tasks and operations: for instance, its responsibility for monetary and exchange rate policy, financial supervision or payment systems oversight.
The Statute lays down the relations between the State and the Bank and its responsibilities in terms of international monetary relations, namely those emerging from its participation in the ESCB, as the Portuguese Republic’s foreign exchange authority.
It also defines the competences and tasks of the Banco de Portugal’s different bodies, as well as other aspects related to its budget and accounts and the overall staff framework.