Luís Máximo dos Santos: The reform of the framework on bank crisis management - the importance of deposit guarantee schemes

Speech by Mr Luís Máximo dos Santos, Vice-Governor of the Banco de Portugal, at the CIRSF (Centre for Investigation, Regulation and Financial Supervision) International Conference 2023, Lisbon, 9 October 2023.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good afternoon, everyone.

I would like to begin by greeting the distinguished speakers at the Conference and also the esteemed audience.

Let me also thank Professor Luís Morais for the invitation to speak and congratulate him warmly on the organisation of this Conference, which is its tenth edition, a record that is an excellent indicator of its consistency and interest. I am sure it will continue to make its way for many years.

I would also like to note the fact that I am at the Faculty of Law of the University of Lisbon, a place where I was happy as a student and lecturer, and to which I am always delighted to return.

I chose as the theme of my remarks the reform of the bank crisis management framework and in particular the importance of deposit guarantee schemes within such reform. My expectation is that I can share some of my experience, not only as Vice-Governor of the Banco de Portugal responsible for crisis management, but also as Chairman of Fundo de Garantia de Depósitos, a role I have been performing since 2016.

Deposit guarantee schemes have been and will continue to be an essential pillar in preserving financial stability and recent events gave them renewed centrality in crisis management frameworks.