Portugal: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management Arrangements

The mandates and responsibilities of the institutions in the financial safety net in Portugal are set within the Banking Union framework. The European authorities that have jurisdiction in the Portuguese banking system include the European Central Bank (ECB), the European Commission (EC), the Single Resolution Board (SRB), and the European Stability Mechanism (ESM). The EU’s single rulebook on crisis management and domestic legislation forms the framework under which the Portuguese authorities operate.