The results of the tests have pointed to the resilience of the institutions against particularly adverse macroeconomic scenarios. In 2011, Banco de Portugal launched a wide-ranging on-site inspection programme under the Economic and Financial Adjustment Programme, which came to be known as the SIP (Special Inspections Programme).
This involved an external assessment of the banks’ credit portfolios, verification of the risk assessment methods used by the institutions and assessment of the methodologies used in the stress tests. The credit portfolio assessed amounted to € billion, representing 65% of total assets. The results of the exercise revealed the need to reinforce impairments by € million euros.