Considering the need to permanently reinforce the mechanisms designed to prevent or mitigate 3/4  BIS central bankers' speeches  risks to financial system stability, Banco de Portugal is due to launch a public consultation into a Notice that will repeal and replace Notice No 5/2008 relating to internal control, in light of the developments in European and Portuguese legislation, the guidelines of the European Banking Authority, international best practice, reflection and practical supervisory experience accumulated by Banco de Portugal, as well as for reasons of legal certainty and security.
The Governing Council recognises the key role of the Next Generation EU package and stresses the importance of it becoming operational without delay. It calls on Member States to deploy the funds for productive public spending, accompanied by productivity-enhancing structural policies.