What exactly does the Bank of Portugal regulate?

The Bank of Portugal is the central bank of Portugal. As a central bank, it has a number of responsibilities, including the following:

1. Monetary policy: The Bank of Portugal sets monetary policy for the country, including setting interest rates, managing the money supply, and providing liquidity to the financial system.

2. Financial stability: The Bank of Portugal is responsible for maintaining financial stability in Portugal, including identifying and addressing potential risks to the financial system.

3. Supervision of the financial system: The Bank of Portugal is responsible for supervising and regulating the financial system in Portugal, including banks, insurance companies, and financial markets.

4. Currency issuance: The Bank of Portugal is responsible for issuing and managing the currency of Portugal, the euro.

5. Payment systems: The Bank of Portugal operates and oversees payment systems in Portugal, including the interbank payment system and the retail payment system.

The Bank of Portugal regulates the financial industry in Portugal. This includes banks, insurance companies, and financial markets. As the central bank of Portugal, the Bank of Portugal is responsible for supervising and regulating these institutions to ensure that they are operating in a safe and sound manner and in compliance with relevant laws and regulations. The Bank of Portugal also plays a role in maintaining financial stability in the country by identifying and addressing potential risks to the financial system.

Does the Bank of Portugal regulate mortgage brokers / companies?

Yes, the Bank of Portugal regulates mortgage brokers in Portugal. In Portugal, mortgage brokers are required to be licensed and regulated by the Bank of Portugal. The Bank of Portugal sets rules and standards for the operation of mortgage brokers, including requirements related to capital, liquidity, risk management, and consumer protection. Mortgage brokers are also required to follow certain conduct of business rules, including rules related to transparency, fairness, and suitability. The Bank of Portugal has the authority to take enforcement action against mortgage brokers who fail to comply with these rules and regulations.