Banco de Portugal performs clear public interest functions in its capacity as a Eurosystem monetary authority and national supervisory authority.

The importance and nature of the Bank's activities require those working for it to follow high standards of professional ethics.

The Banco de Portugal’s Conduct Regulation and the Codes of Conduct of Banco de Portugal establish rules and guidance on professional ethics for all those working for the Bank, including the Board of Directors and the Audit Board. They are also a reference for the public and institutions on conduct standards applying to those working for the Bank, including the members of the Bank's corporate bodies.

The Regulation of the Ethics Committee and of the General Duties of Conduct of the Employees of Banco de Portugal is a set of labour requirements taking the form of rules binding those working for the Bank.

The ethical regime in force in Banco de Portugal is in line with that of the European System of Central Banks (ESCB), the Eurosystem and the Single Supervisory Mechanism (SSM).

Policy on gifts

Banco de Portugal has an internal policy on gifts, pursuant to the ethical and conduct regulations in force.

Banco de Portugal’s staff, members of the Board of Directors and members of the Board of Auditors are prohibited from accepting, for themselves or any other person, any gifts, prizes, or other benefits or rewards connected in any way with the performance of their official duties, except in exceptional and duly substantiated cases. Where gifts do not fall under such exceptional cases, they shall be declined and returned to the party making that gift.

This policy on gifts is intended to safeguard the independence and impartiality of Banco de Portugal’s staff, members of the Board of Directors and members of the Board of Auditors in the course of their duties.

General Framework of Principles for Contractors of the Banco de Portugal  

The Banco de Portugal has approved the “General Framework of Principles for Contractors of the Banco de Portugal” to which natural and legal entities whose tenders have been awarded under procurement procedures carried out by the Banco de Portugal are subject.

In the pursuit of its mandate, as the institution responsible for maintaining price stability and promoting financial stability, the Banco de Portugal believes that it is also responsible for creating economic and social value by reflecting in the contractors the same level of requirement as the principles that guide the fulfilment of its mission.

Acceptance of and compliance with the General Framework of Principles constitute a contractual obligation of the Contractors. 

By signing the Statement of Commitment, Contractors ensure that the human resources directly or indirectly assigned to the performance of the contracts entered into with the Banco de Portugal are fully aware of and comply with this General Framework of Principles.