Portugal's National Council of Financial Supervisors held microprudential and macroprudential sessions, approving a joint initiative on technological free zones under the regimes applicable to the financial sector, endorsing a 2025 work plan for cybersecurity and systemic operational resilience, and authorising the next national financial literacy survey and related outreach programme. On financial innovation, the Council reviewed work by its Financial Technological Innovation Working Group, including monitoring innovative initiatives, timetable changes to the 2025 activity plan, and progress on the sixth edition of Portugal Finlab. On cybersecurity and operational resilience, it approved the working group’s activity plan and reviewed proposed actions and a timetable for developing a national cybersecurity strategy for the financial sector. Under the National Financial Training Plan, it approved the fifth Financial Literacy Survey of the Portuguese population as part of the Organisation for Economic Co-operation and Development International Network on Financial Education exercise and the 14th edition of the “Todos Contam” competition, and reviewed first-quarter activities including the first simultaneous celebration of Financial Training Week with Global Money Week, involving 404 schools, 44 entities and more than 74,000 direct participants. In the macroprudential session, the Council discussed risks to financial stability across the macroeconomic and financial environment, capital markets, banking, insurance and pension funds, highlighting weaker global activity linked to more unpredictable United States economic policy and elevated geopolitical uncertainty. It also reviewed preparations for the International Monetary Fund Financial Sector Assessment Program for Portugal, with preparatory meetings running from 28 May to 3 July 2025, exchanged information on work linked to the European Commission’s Savings and Investments Union strategy, and noted Banco de Portugal’s macroprudential decisions for 2025 following consultation of the Council.
National Council of Financial Supervisors 2025-06-23
Portugal's National Council of Financial Supervisors approves 2025 fintech, cyber resilience and financial literacy initiatives
Portugal's National Council of Financial Supervisors approved initiatives on technological free zones, a 2025 cybersecurity work plan, and the next national financial literacy survey. The Council reviewed financial innovation efforts, including the Financial Technological Innovation Working Group's progress and the sixth edition of Portugal Finlab. It also addressed financial stability risks, IMF Financial Sector Assessment Program preparations, and Banco de Portugal's macroprudential decisions for 2025.