The exercise confirmed the 2  BIS central bankers’ speeches  soundness of the national banking system at 30 September 2013. ETRICC 2 brought to a close a series of horizontal inspections carried out by Banco de Portugal since 2011 which have contributed to making the Portuguese banking system more solid. The results of these exercises were duly incorporated into the institutions’ financial statements.
At the same time, recommendations were issued to correct insufficiencies found in the internal procedures and processes of the institutions in these areas. The extension of the measures taken and the adoption of additional supervisory instruments further advanced the intrusive and forward-looking approach to supervision.