The National Council of Financial Supervisors published the outcomes of its meeting in microprudential and macroprudential formats, including approval of a new 2026–2030 strategic plan for the National Plan for Financial Education (PNFF) and approval for publication of the Council’s 2025 activity report. The Council also reviewed work underway on financial-sector legislative initiatives, financial innovation, cyber resilience and current financial stability risks. On the microprudential agenda, the Council approved publication of an updated list of financial-sector legislative initiatives involving the Council as of March 2026. It received updates from the working group on financial technological innovation, including on the 7th edition of Portugal FinLab, approved timetable changes to the group’s activity plan, and commissioned analysis on the use of artificial intelligence. Updates were also shared on the working group on cybersecurity and systemic operational resilience. For the PNFF, the Council approved the 2026–2030 strategic plan, focusing on children and young people through schools and on adults across the life cycle; it also approved the PNFF’s 2026 activity plan and budget, set a budget increase from 2027 to support projects in the new strategy, and approved publication of the PNFF’s 2025 activity report. The meeting noted work on the 5th Portuguese population financial literacy survey within the OECD International Network on Financial Education exercise and highlighted a Ministry of Education initiative under which around 550 financial literacy classes were delivered nationwide. On the macroprudential agenda, discussions covered risks to financial stability across the macroeconomic and financial environment, capital markets, banking, and insurance and pension funds, including global economic developments linked to worsening geopolitical and trade tensions, and the implications of natural catastrophes for Portugal’s financial system. The Council reviewed the status of technical work supporting the International Monetary Fund’s Financial Sector Assessment Program for Portugal, including the second mission held from 28 January to 10 February 2026, and was informed of Bank of Portugal macroprudential policy decisions taken since the Council’s November 2025 meeting, including the 24 February 2026 decision not to reciprocate an Austrian measure under Article 133 of Directive 2013/36/EU due to the non-materiality of exposures for Portuguese credit institutions.

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