Banking Supervision and Regulation in the Euro Area: The Case of Portugal
The purpose of this chapter is to analyze and discuss issues related to the banking regulatory and supervisory framework and structures in Portugal, and the role of the Portuguese Central Bank (henceforth and interchangeably Portuguese Central Bank, Banco de Portugal, and BdP) in that context.
KeywordsMonetary Policy Banking System Euro Area European Central Bank Credit Institution
Unable to display preview. Download preview PDF.
- Amaral, Luciano (2010) Economia Portuguesa, as Últimas Décadas, Lisbon: Fundação Francisco Manuel dos Santos.Google Scholar
- Archer, David (2009) “Roles and Objectives of Modern Central Banks,” in G. Ortiz (ed.), Issues in the Governance of Central Banks, Basel: Bank for International Settlements, Chapter 2.Google Scholar
- Banco de Portugal (2008) “Financial Stability Report,” Lisbon: Banco de Portugal.Google Scholar
- Barata, José (1995) “O Sector Bancário em Portugal: Evolução e Análise Estratégica (1986–1992),” Revista da Banca, 33: 17–60.Google Scholar
- Barth, James, Caprio, Gerard, Jr., and Levine, Ross (2001) “Banking Systems around the Globe: Do Regulation and Ownership Affect Performance and Stability?,” in F. Mishkin (ed.), Prudential Supervision: What Works and What Doesn’t, Chicago, IL: University of Chicago Press, 31–96.CrossRefGoogle Scholar
- Bernanke, Ben (2007) “Central Banking and Bank Supervision in the United States,” speech at the Allied Social Science Association Annual Meeting, Chicago, IL, January 5, http://www.federalreserve.gov/newsevents/speech/ bernanke20070105a.htm, accessed July 27, 2015.
- Boot, Arnoud (2007) “Supervisory Arrangements, LOLR, and Crisis Management in a Single European Banking Market,” in Douglas Evanoff, George Kaufman, and John LaBrosse (eds.), International Financial Instability: Global Banking and National Regulation, Danvers, MA: World Scientific Publishing, 387–406.CrossRefGoogle Scholar
- Bord, Vitaly, and Santos, João (2012) “The Rise of the Originate-to-Distribute Model and the Role of Banks in Financial Intermediation,” Economic Policy Review, 18(2): 21–34.Google Scholar
- CEBS (2010)“Guidelines on Supervisory Disclosure — Revised,” January, London: Committee of European Banking Supervisors.Google Scholar
- Claessens, Stijn and Ratnovski, Lev (2014) “What Is Shadow Banking?” International Monetary Fund Research Department, Working Paper No. WP/14/25, Washington, DC: IMF.Google Scholar
- Cole, Rebel, and Gunther, Jeffrey (1995) “A CAMEL Rating’s Shelf Life. Federal Reserve Bank of Dallas,” Financial Industry Studies, December: 13–20.Google Scholar
- Cole, Rebel, Cornyn, Barbara, and Gunther, Jeffrey (1995) “FIMS: A New Monitoring System for Banking Institutions,” Federal Reserve Bulletin, January: 1–15.Google Scholar
- Collier, Charles, Forbush, Sean, Nuxoll, Daniel, and O’Keefe, John(2003) “The SCOR System of Off-Site Monitoring: Its Objectives, Functioning, and Performance, FDIC Banking Review, 15 (3): 17–32.Google Scholar
- Dahl, Drew, O’Keefe, John and Hanweck, Gerald(1998)“The Influence of Examiners and Auditors on Loan-Loss Recognition,” FDICBanking Review,11(4): 10–25.Google Scholar
- De Grauwe, Paul (2008) “The Banking Crisis: Causes, Consequences and Remedies,” Centre for European Policy Studies, No. 178 (November), Brussels: CEPS.Google Scholar
- Dermine, Jean (2003) “Banking in Europe: Past, Present, and Future,” in V. Gaspar, P. Hartmann and O. Sleijpen (eds.), The Transformation of the European Financial System, Frankfurt: European Central Bank, 31–95.Google Scholar
- Dewatripont, Mathias, and Tirole, Jean(1993)The Prudential Regulation of Banks, Cambridge, MA: MIT Press.Google Scholar
- European Banking Federation (2007) Report on Integration of European Financial Services Markets, December, Brussels: EBF.Google Scholar
- European Commission (2010) Financial Supervision Package — Frequently Asked Questions, MEMO/10/434, 22 September, Brussels: European Commission.Google Scholar
- Financial Stability Board (2013) Global Shadow Banking Monitoring Report, November, Basel: Financial Stability Board.Google Scholar
- Flannery, Mark (1994) “Corporate Finance, Market Discipline and Bank Supervision,” in 30th Annual Conference on Bank Structure and Competition Proceedings, Chicago, IL: Federal Reserve Bank of Chicago, 313–330.Google Scholar
- Freixas, Xavier, and Rochet, Jean-Charles (2008) Microeconomics of Banking,2ndedn., Cambridge, MA: MIT Press.Google Scholar
- Furlong, Frederick, and Robard, William (2006) “Financial Market Signals and Banking Supervision: Are Current Practices Consistent with Research Findings?”Federal Reserve Bank of San FranciscoEconomic Review, 2006: 17–29.Google Scholar
- Gaspar, V., Hartmann, P., and Sleijpen, O. (eds.) (2003) The Transformation of the European Financial System, Frankfurt: European Central Bank.Google Scholar
- Goodhart, C.A.E. (2005) “The Future of Central Banking,” Financial Markets Group Special Paper No. 162, London: London School of Economics.Google Scholar
- Goodhart, Charles, and Schoenmaker, Dirk(1993)“Institutional Separation between Supervisory and Monetary Agencies,” Financial Markets Group Special Paper No. 52, London: London School of Economics.Google Scholar
- Goodhart, Charles, and Schoenmaker, Dirk (1995) “Should the Functions of Monetary Policy and Banking Supervision Be Separated?”Oxford Economic Papers, 47(4): 539–560.Google Scholar
- Haubrich, Joseph (1996) “Combining Bank Supervision and Monetary Policy,” Federal Reserve Bank of Cleveland Economic Commentary, November.Google Scholar
- Herring, Richard, and Santomero, Anthony (2000) “What Is Optimal Financial Regulation?” in Benton Gup (ed.), The New Financial Architecture: Banking Regulation in the 21st Century, Westport, CT: Quorum Books, 51–84.Google Scholar
- International Monetary Fund (2014) “Shadow Banking around the Globe: How Large, and How Risky?” in Global Financial Stability Report: Risk Taking, Liquidity, and Shadow Banking — Curbing Excess while Promoting Growth, Washington, DC: IMF, 65–104.Google Scholar
- Kini, Satish (2004) “New Bank Holding Company Rating System Revises the Focus of the Federal Reserve’s Supervisory Practices,” Banking Law Journal, 121(9): 784–790.Google Scholar
- Krainer, John, and Lopez, Jose (2002) “Do Supervisory Rating Standards Change over Time?”working paper, http://www.bis.org/bcbs/events/cbrworkshop09/krainerlopez.pdf, accessed July 27, 2015.
- LeRoy, Stephen (2010) “Is the ’Invisible Hand’ Still Relevant?”Federal Reserve Bank of San Francisco Economic Letter, 14(May): 1–4.Google Scholar
- Llewellyn, David(2006)“Institutional Structure of Financial Regulation and Supervision: The Basic Issues,” World Bank seminar, “Aligning Supervisory Structures with Country Needs,” Washington, DC.Google Scholar
- Lloyd-Jones, Stewart (2001) “Portugal’s History since 1974,” CPHRC Working Papers, Series 2, No. 1, November, http://www.cd25a.uc.pt/media/pdf/portugal-since-1974.pdf, accessed July 27, 2015.
- Murphy, Neil (2000) “European Union Financial Developments: The Single Market, the Single Currency, and Banking,” FDICBanking Review, 13(1): 1–18.Google Scholar
- Office of the Comptroller of the Currency (2005) Bank Supervision Process Comptroller’s Handbook, September (updated 2013), Washington, DC: OCC.Google Scholar
- Olson, Mark (2006) “Are Banks still Special?” speech at the Annual Washington Conference of the Institute of International Bankers, Washington, DC, March 13.Google Scholar
- Pereira, Álvaro Santos, and Lains, Pedro (2010) “From an Agrarian Society to a Knowledge Economy: Portugal, 1950–2010,” Universidad Carlos II de Madrid Working Paper in Economic History No. 10-09, http://e-archivo.uc3m.es/handle/10016/9361?locale-attribute=en, accessed July 27, 2015.
- Polizatto, Vincent (1990) “Prudential Regulation and Banking Supervision: Building an Institutional Framework for Banks,” World Bank Policy Research Working Paper No. wps340, http://documents.worldbank.org/curated/en/1990/01/700348/prudential-regulation-banking-supervision-building-institutional-framework-banks, accessed July 27, 2015.
- Sahajwala, Ranjana, and Van den Bergh, Paul (2000) “Supervisory Risk Assessment and Early Warning Systems,” Basel Committee on Banking Supervision Working Paper No. 4, http://www.bis.org/publ/bcbs_wp4.pdf, accessed July 27, 2015.
- Scheller, Hanspeter(2006)The European Central Bank: History, Role and Functions, 2nd rev. edn., Brussels: European Central Bank.Google Scholar
- Schoenmaker, Dirk, and Peek, Toon (2014) “The State of the Banking Sector in Europe,” OECD Economics Department Working Papers No. 1102, http://www.oecd-ilibrary.org/economics/the-state-of-the-banking-sector-in-europe_5k3ttg7n4r32-en, accessed July 27, 2015.
- Stiglitz, Joseph (2002) “There Is No Invisible Hand,” The Guardian, 20 December, http://www.theguardian.com/education/2002/dec/20/highereducation.uk1, accessed July 27, 2015.
- Stiglitz, Joseph (2009) “Regulation and Failure,” in D. Moss and J. Cisternino (eds.) New Perspectives on Regulation, Cambridge, MA: Tobin Project, 11–23.Google Scholar
- Stulz, René (2001) “Does Financial Structure Matter for Economic Growth? A Corporate Finance Perspective,” in A. Demirgüç-Kunt and R. Levine (eds.)Financial Structure and Economic Growth. A Cross-Country Comparison of Banks, Markets, and Development, Cambridge, MA: MIT Press, 143–188.Google Scholar
- Valério, Nuno (ed.)(2010) History of the Portuguese Banking System: From the Bank of Portugal’s Role as a Central Bank to the European Monetary Union — 1831–1998, Vol. II, Lisbon: Banco de Portugal.Google Scholar
- Whelan, Karl (2012) “Should Monetary Policy Be Separated from Banking Supervision?” Policy Department A: Economic and Scientific Policy, Strasbourg: European Parliament.Google Scholar