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Portuguese financial supervisors sign trilateral crisis management protocol
Portuguese financial supervisors have signed a trilateral cooperation protocol to enhance crisis management and strengthen the stability of the national financial system. The agreement involves the Banco de Portugal (BdP), the Securities Market Commission (CMVM), and the Insurance and Pension Funds Supervisory Authority (ASF).
The trilateral protocol establishes mechanisms for information exchange and collaboration during crises, specifically targeting areas such as early or corrective intervention, provisional administration, and resolution. This framework is designed to align with both national and European standards, including the Single Supervisory Mechanism and the Single Resolution Mechanism.
In addition to the trilateral agreement, the three entities signed three new bilateral protocols to update terms for mutual consultation and periodic information sharing. These measures follow recommendations from the International Monetary Fund’s Financial Sector Assessment Program (FSAP) and aim to modernize the institutional framework to meet evolving regulatory requirements.
Entities
Autoridade de Supervisão de Seguros e Fundos de Pensões · Banco de Portugal · Comissão do Mercado de Valores Mobiliários · International Monetary Fund · Portugal
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Cooperation mechanisms will cover corrective or early intervention, provisional administration, and resolution. www.correiodamanhacanada.com · eco.sapo.pt · jornaleconomico.sapo.pt
- [● 2 SOURCES] Three new bilateral protocols were also signed to update cooperation terms. www.correiodamanhacanada.com · jornaleconomico.sapo.pt
- [○ 1 SOURCE] The cooperation follows recommendations from the IMF's Financial Sector Assessment Program (FSAP). eco.sapo.pt
- [● 3 SOURCES] The protocols aim to improve crisis management and strengthen financial system resilience. www.correiodamanhacanada.com · eco.sapo.pt · jornaleconomico.sapo.pt
- [● 3 SOURCES] The Banco de Portugal, CMVM, and ASF signed a trilateral cooperation protocol. www.correiodamanhacanada.com · eco.sapo.pt · jornaleconomico.sapo.pt
- [● 3 SOURCES] The agreement aligns with the Single Supervisory Mechanism and the Single Resolution Mechanism. www.correiodamanhacanada.com · eco.sapo.pt · jornaleconomico.sapo.pt