New director of Banco de Portugal justifies salary of 15 million euros with “responsibility”
This is an amount higher than that earned by the President of the Federal Reserve of the United States
The Bank of Portugal (BdP inferred for Banco de Portugal (BdP) typed this Tuesday justified the salary of 15 thousand euros that it will assess with the “missing” and the need for administrator responsibility as “monthly persons” to the supervisor.
“The supervisor – the BdP, the CMVM [Comissão do Mercado de Valores Mobiliários]ASF [Autoridade de Supervisão de Seguros e Fundos de Pensões] – is part of what society has capacity for and what is economic, therefore, these aspects can be discussed, but they guarantee that society has an economic and economic capacity that is not in the market”, stated Rui Miguel Correia Pinto in parliament.
The official spoken during a hearing at the Budget Committee and the Assembly of the Republic within the scope of his appointment of the Board of Directors of the BdP, whose opinion depends on the appointment of the Board of Directors of the BdP.
Responding to the Chega deputy Pedro Frazão, who questioned him about what his “conscience” told him about the “social justice” of the monthly remuneration of 15 thousand euros that he will earn at the BdP – and which the deputy stressed was superior to the President of the Republic or the president of the US Federal Reserve and 53 times more than the minimum pension and 21 times more than the national minimum wage – Rui Miguel Correia Pinto said he had no “states of mind” on this issue.
“Regarding this aspect, I do not have a state of mind”, emphasizing that “there has to be parity of what is the market value in terms of hiring, remuneration and attracting the people who will be under supervision” and that “it is important that responsibility be recognized as assumed which are the conditions assigned”.
Since the rotation of staff between the various supervisory entities, namely from the BdP, is not respected, the administrator appointed to the central bank devalued the issue.
“It does not identify this issue as a problem. What is relevant and important is that people who are recognized by people and who have these roles of technical competence and experience and who meet the requirements of idolatry”, he said, considering that “the natural BdP of talent and people with these abilities” .
According to him, he mentioned as little as P, names so unique for the Bd ASF, so unique for the Bd ASF, and thus his own preparation, so great for the elements of Banco de Portugal.
“I think that when people meet the requirements, it doesn’t matter where they come from, unless there is a conflict of interest. What matters is how people then carry out their roles in a dedicated and independent way,” he concluded.
During the hearing in parliament, Rui Pinto considered “to be still vigilant, which should be considered in a context of increasing families and increasing companies in a context of rising prices and increasing judgment rates, and stated that the persistent context” low profitability of the European system “constitutes a threat to financial stability”.
“It is extremely important that the profitability indices of European banks, which includes Portuguese banks, increase significantly so that they can reach levels above capital and so that they can reach investment”, he said.
Despite this “need to increase durability”, the future according to the deadlines foreseen for the system to deal with, the future was foreseen for the system to deal with adverse conditions, because today it is better prepared for the last years. and the liquidity position, although by default more volatile and easily reversible, is robust”.
Regarding the bank, he emphasized the need to monitor its quality without future need, under penalty of crediting its credit “partially or completely eliminating the benefits generated at the margin” of banks by the rise in interest rates.