Furthermore, the share of European banks’ claims on the rest of the world has also grown. •  Third, the banking system has become more concentrated. Whereas the number of credit institutions in the European banking sector has declined, total assets have increased, signalling the emergence of larger institutions.
What I would like to do today is two things:   First, I would like to present and explain the Banco de Portugal strategy to secure financial stability in the context of the Portuguese economy’s adjustment and the euro area systemic crisis.   Secondly, I would like to comment briefly on how the Portuguese banking system is responding to the new environment.