Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Portuguese Banks Gain on Liquidity Rule Decision: Lisbon Mover

Don't Miss Out —
Follow us on:

Jan. 7 (Bloomberg) -- Banco Espirito Santo SA and Banco Comercial Portugues SA led Portuguese banks higher after global central bank governors allowed lenders to use a wider range of assets to meet international liquidity rules.

Espirito Santo, the nation’s biggest publicly traded bank, advanced 1.9 percent to close at 97.5 cents in Lisbon. Banco Comercial climbed 2.6 percent to 7.9 cents.

“Portuguese banks are benefiting from the decision by central bank chiefs yesterday that will help bolster lending and the economy in Portugal,” said Alfredo Mendes, a trader at Banco Best in Lisbon.

Banco BPI SA, Portugal’s fifth-biggest bank, which along with Banco Comercial received bailout funds from the Portuguese government, rose 2.1 percent to 1.02 euros.

Central bank governors, meeting in Basel, Switzerland, allowed lenders to use an expanded range of assets including some equities and securitized mortgage debt to meet the liquidity coverage ratio, or LCR. Banks will also have an extra four years to fully comply with the measure.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.