A year after the EU's payee check arrived, the Bank of Portugal's service has run 404 million of them. What the warning means, why you can still send the money, when your bank must refund you, and the scams a matching name cannot stop.
The ECB wants national supervisors able to treat banks with up to 10 billion euros in assets as small, with fewer reviews and far less reporting. Of the 91 Portuguese credit institutions the Banco de Portugal supervises, 73 are in the Crédito Agrícola group.
New term deposits paid 1.63 percent in August against 2.18 percent across the euro area, the Bank of Portugal says. Only five countries paid less, and inflation still outpaces what savers earn.
Fraudsters are posting cards with personalised letters that push recipients to activate them through a link, number or QR code. A genuine card is activated only at a cash machine or in your bank's own website or app.
The average payment has risen to about 700 euros, but wages have outrun the caps, a Bank of Portugal study finds. Six in ten claimants are back at work within a month of leaving the benefit, though four in ten earn less in real terms.
BdP's March release puts new household loans at €4,057 million — the first print above four billion since the series began in January 2003. Housing leads at €2,238M, the new mortgage rate eases to 2.81%, and term-deposit rates post their biggest jump in 2.5 years.
BPI CEO João Pedro Oliveira e Costa rejected Bank of Portugal concerns over the youth-credit programme, telling reporters the bank sees 'nenhum nível de preocupação'. BPI booked €133 million in Q1 net profit, down 2 percent. The supervisor is preparing tighter macroprudential mortgage rules.
