Portugal's central bank introduces a capital buffer for mortgages at 4 major banks.

November 15, 2023 at 12:33 pm ET LISSABON (Reuters)

Bank of Portugal said Millennium bcp, Novo Banco, Banco BPI and the local unit of Spanish bank Santander need to create a new capital buffer of 4 percent of their real estate mortgage-backed loan portfolios. He said in a statement Wednesday that the measure to address "sectoral systemic risk" will take effect on Oct.

Recommended News

Chase Buchanan Wealth Management has published a new free guide to the Italian tax system for expats.

14 May

2094

Dear homes: Portugal ranks among the top ten countries preferred for investment.

9 April

Spain is ending its "golden visa" program in exchange for real estate purchases.

10 April

Housing prices in Portugal have dropped by 1.3%, including in Lisbon and Porto.

15 April

The Prime Minister of Portugal will meet with parliament regarding a family-owned real estate company.

11 April

Recommended real estate

Sale flat in Oeirash 153 877 $

Portugal,Oeirash

1 Bedroom

1 Bathroom

55 м²

Sale penthouse in Oeirash 139 839 $

Portugal,Oeirash

1 Bedroom

1 Bathroom

61 м²

Sale flat in Oeirash 188 972 $

Portugal,Oeirash

1 Bathroom

41 м²

Sale flat in Oeirash 221 367 $

Portugal,Oeirash

2 Bedrooms

2 Bathrooms

108 м²

Sale flat in Lisbon with city view 367 146 $

Portugal,Lisbon

2 Bedrooms

2 Bathrooms

107 м²

Sale flat in Lisbon with city view 306 675 $

Portugal,Lisbon

1 Bedroom

1 Bathroom

38 м²

1, 2024, and will be reviewed at least every two years. "This instrument has a preventive orientation and aims to increase the resilience of institutions in the event of a possible future occurrence of systemic risk in the residential real estate market in Portugal," the statement said.

The central bank said the four