The Law no. 15/2019, of 12th February, assures the transparency of the information regarding the granting of high-value credit, as well as the increased parliamentary scrutiny in the access to banking information and supervision.
In that sense, any facts subject to secrecy might be revealed to the national parliamentary committees of inquiry, when strictly necessary, as in an investigation or an exam of the banking supervisory authorities’ behaviour.
In order to ensure transparency over capitalisation operations of credit institutions relying in public funds, in the 20 days upon the decision to apply or make available, directly or indirectly, said public funds, the Bank of Portugal shall publish, in its website, the maximum total amount of public funds applied or made available, the conditions of availability, including interests or other forms of remuneration of the public funds made available and the maximum deadline of its refund. In a 120-days period, the Bank of Portugal must submit this information to the National Parliament.
The present law is into force since the 13th of February.
