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International Institutions

European System of Financial Supervision

Banco de Portugal participates in the European System of Financial Supervision whose aim is to ensure the stability of the European Union’s financial system.

The activity of the European System of Financial Supervision covers not only the banking sector, but also the insurance and pension funds sector, the securities market, the so-called ‘shadow banking’, financial market infrastructures and other financial institutions and markets.

Within the European System of Financial Supervision, Banco de Portugal is directly represented in:

  • The European Systemic Risk Board, which assesses and seeks to mitigate systemic risks to financial stability in the European Union. The Governor of Banco de Portugal is a voting member of the General Board, the decision-making body of the European Systemic Risk Board.
  • The European Banking Authority, which aims to create and implement a single rulebook for the European banking sector. Banco de Portugal is represented at the Board of Supervisors, this authority’s main decision-making body, with voting rights.
  • The Joint Committee of the European Supervisory Authorities, which coordinates policies for the financial sector in the European Union at a global and cross-sectoral level.
European Commission and EU Council

The Governor of Banco de Portugal attends the informal meetings of the ECOFIN Council between the ministers for economic and financial affairs and central bank governors of the EUs.

The ECOFIN Council is responsible for European Union policy in economic and fiscal issues and the regulation of financial services.

Banco de Portugal also takes part in committees and technical groups on economic and financial issues in the European Commission and the Council of the European Union.

The Economic and Financial Committee and the Economic Policy Committee are among the most relevant committees in which the Bank is represented. They are important forums for dialogue between representatives from governments, national central banks, the European Commission and the European Central Bank.


Banco de Portugal is a shareholder of the Bank for International Settlements (BIS).

The BIS is an organisation which fosters international monetary and financial cooperation. The BIS serves as a ‘bank for central banks’ and acts as a privileged forum for high-level discussion of issues relating to the international financial system and the role of central banks.

As a shareholder of the BIS, Banco de Portugal has representation and voting rights at General Meetings – one of the three levels governing this international organisation. The Governor also participates in the bimonthly meetings of governors.


The Banco de Portugal is Portugal’s fiscal agent with the International Monetary Fund (IMF) and the Governor is a member of its Board of Governors.

The IMF is an organisation of 190 countries. Its main goal is the promotion of cooperation and stability in the international monetary system. It monitors developments in the global economy and national economies through its surveillance, provides financial assistance to countries with balance of payments problems and supports capacity development in member countries through technical assistance and training.


Banco de Portugal takes part in working groups of the Organisation for Economic Co-operation and Development (OECD) on economic issues, financial markets and statistics.

The OECD is an international organisation for co-operation and its mission is to promote policies that will improve the economic and social well-being of people around the world.

The Bank is a founding member of the OECD’s International Network on Financial Education (INFE), which promotes principles and best practice for financial education. Participating in this network are regulators, central banks, ministries of finance and financial education agencies from OECD and non-OECD countries.

Financial Stability Board

The Financial Stability Board is an international body promoting international financial stability.

Through the coordination of national and international entities with responsibilities in this respect, the Board encourages coherent implementation of regulatory, supervisory and other policies with an impact on the financial sector across jurisdictions. 

The Governor of Banco de Portugal is a member of the Financial Stability Board Regional Consultative Group for Europe.


Banco de Portugal is a Collaborating Member of the Center for Latin American Monetary Studies (CEMLA). CEMLA promotes teaching and research in monetary and banking matters in Latin America and the Caribbean and the exchange of information among monetary authorities.


Banco de Portugal is a founding member of FinCoNet (International Financial Consumer Protection Organisation), an international organisation of supervisory authorities which have responsibility for market conduct in the sale of retail banking products. FinCoNet’s main goal is to improve the protection of banking product consumers.


The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing. For more information on the FATF’s activities, please click here to view the dedicated webpage.