Raposo contrasts Portugal's financial sector assessments 20 years apart
Clara Raposo, Vice-Governor of the Bank of Portugal, contrasted the country's first and second financial sector assessments in a Lisbon panel introduction dated September 22, 2026, and published on October 13.
Twenty years between assessments
Portugal undertook its second Financial Sector Assessment Program (FSAP) in 2026, twenty years after its first exercise in 2005-06. Clara Raposo said the first assessment preceded the introduction of mandatory exercises, while Portugal now participated as a country with a systemically important financial sector.
She thanked Michaela Erbenova for presenting the main conclusions of the 2026 FSAP.
Rather than revisit that diagnosis, Raposo said she would highlight points to frame the first panel's discussion of financial stability risks and macroprudential policy.
She began with a comparison with 2006 and described the contrast between the two assessments as striking.
Two dates in the record
The speech context places Raposo's introduction at the Bank of Portugal's conference on the main findings of Portugal's FSAP in Lisbon on September 22, 2026.
The Bank for International Settlements (BIS) published the entry on October 13, 2026, which its delivery-date field also lists.
The entry links to a five-page PDF, but the supplied excerpt ends before Raposo develops the comparison.
The BIS states that the speaker's views do not necessarily reflect its own.
The diagnosis remains outside view
The excerpt establishes Portugal's changed assessment status, not the substance of its financial vulnerabilities.
It contains no specific macroprudential measures or policy decisions.
The comparison is introduced, but its supporting evidence is absent from the supplied text.