Banco de Portugal's decision about BES

4th August, 2014

The authorities' decision on the resolution of Banco Espírito Santo, SA, all the details of which are not yet known, fits in with the current legal framework. Neither the APB nor its members participated, as they do not belong to the Resolution Fund, which they finance.

The Portuguese Banking Association (APB) approves of Banco de Portugal's intervention in solving the Banco Espírito Santo problem, given its systemic nature.

The APB and its member banks are happy to cooperate with the authorities and the Resolution Fund to ensure the success of the measures and the rapid sale of Novo Banco's shares.

Associação Portuguesa de Bancos