Carlos Costa will step down as governor, but may not abandon Banco de Portugal altogether. With the entry of his successor, in which the name proposed by the Government is Mário Centeno, the current leader will take a direct seat on the authority’s advisory board. This body has worked with some informality, but the reinforcement of its action is under discussion, so that it can effectively comment on the annual accounts and the work of the financial supervisor. If materialized, the scrutiny of the supervisor’s administration will increase, which Centeno said in Parliament is something that is always present in his path.
Banco de Portugal has, in addition to the board of directors and the audit board (which supervises it), a body that pronounces itself “non-bindingly, on the annual report of the bank’s activity”, “the performance of the bank” and “ matters submitted to it by the governor or the board of directors ”. And it is this advisory council, where Vítor Constâncio and António de Sousa are, for being ex-governors and where there is also a representative of the banking sector, which is undergoing a small revolution in recent days and which, after the successor of the governor , will have Carlos Costa, who has this place inherently.
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