Portugal’s Insurance and Pension Funds Supervisory Authority, the Bank of Portugal and the Portuguese Securities Market Commission have signed a trilateral protocol establishing mechanisms for cooperation and information sharing in financial crisis management. The framework covers corrective and early intervention, temporary administration and resolution, including procedures for handling confidential information, and reflects recommendations from the International Monetary Fund’s recent Financial Sector Assessment Program for Portugal. The authorities will coordinate where they share supervisory or crisis management responsibilities and where problems at one supervised entity create an imminent contagion risk for entities overseen by another authority. Coordination must account for both national and European arrangements, including the Single Supervisory Mechanism and Single Resolution Mechanism. Three new bilateral protocols also update cooperation, consultation and information sharing to reflect expanded regulatory mandates, digitalization, changing business models and structures, and new information system security threats.
2026-09-25Portuguese Insurance Regulator (ASF)
Portugal’s Insurance and Pension Funds Supervisory Authority, Bank of Portugal and Portuguese Securities Market Commission sign crisis management and bilateral cooperation protocols
Portugal’s three financial supervisors have established a trilateral framework for cooperation and confidential information sharing during corrective intervention, temporary administration and resolution. They also updated their bilateral arrangements to reflect broader mandates, digitalization, changing business models and information system security threats.