The law assigns responsibility to Banco de Portugal, as supervisory authority, for assessing whether the members of the management and supervisory boards of credit institutions meet conditions of: – reputation; – availability; – and professional qualification, suitable for guaranteeing sound and prudent management of the credit institutions.
Even more recently, it was argued that banks and nonfinancial firms had to merge in order to save the capital-starved banking system. Today, as you know, virtually all of our banks are very well capitalized.