BdP "fully available" to provide RA with debtor list information, highlights Carlos Costa – O Jornal Económico


The Governor of the Bank of Portugal, Carlos Costa, stressed in parliament today that the institution is "fully available" to provide aggregated and anonymous information on the list of debtors, once there is a consensus on the aggregation criteria.

"We are fully available to provide aggregated and anonymised information in terms that the Assembly of the Republic (AR) considers important," Carlos Costa said today when speaking at the annual hearing of the Assembly's Committee on Budget, Finance and Administrative Modernization (COFMA) .

The governor of the Bank of Portugal (BdP) stressed that the supervisor is "adding realities that are not homogeneous" and "information that is not homogeneous" and that, consequently, "debtors with completely different exposure levels will appear on the same list" .

Carlos Costa pointed out that "as long as there is a consensus on the aggregation criteria", and as soon as they are "agreed", the Bank of Portugal will then have the aggregated data to present to the RA.

"We have methodological and construction issues that have to be clarified between the two parties [Banco de Portugal e Assembleia da República]. This is a letter sent by the BdP to the AR expressing an openness to proceed with the aggregation of the data, once the criteria have been clarified, "said Carlos Costa, adding that a letter was sent to the HR requesting clarification.

"Our concern is to overcome methodological difficulties," he said.

At issue was a distinct interpretation by the supervisor of Article 4 (3) of the Large Debtors Act.

The president of the Committee on Budget, Finance and Administrative Modernization (COFMA), Teresa Leal Coelho, said "on the basis of the authentic interpretation made by the parliament … the information will be provided" to the Assembly of the Republic.

"The Bank of Portugal's argument, besides this divergent interpretation of ours, was that there is aggregation of information that does not produce a logical result," added the president of COFMA.

"We'll see when this information arrives," he said.

On the same day, on May 29, the President of the Assembly of the Republic, Eduardo Ferro Rodrigues, called on the governor of the Bank of Portugal to supervise this "compliance with the law" regarding the publication of data on large bank debtors .

At the end of the day, the leaders' conference agreed that the Bank of Portugal did not comply with the law in the publication of data on large debtors of the bank, and the president of the Assembly of the Republic was to communicate this position to the supervisor.



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