To respond to these challenges, the institutions must take action on various fronts: •  On the one hand, they need to find ways to reduce the proportion of legacy assets with low interest rate spreads, thereby freeing liquidity for new activity.
In this respect I would like to point out that, when Portuguese banks benefit from a more adequate rating (for example, if acquired by an institution with a high-quality rating), they will automatically benefit from a re-rating of their mortgage portfolio and realize gains.