the announcement on 20 june 2014 of the resignation of the board members designated by esfg, banco de portugal deems that the requirements needed for bes to qualify as a subsidiary of esfg within the meaning of article 4 ( 1 ) ( 16 ) of regulation ( eu ) no 575 / 2013 are no longer met, leading to a change to the perimeter of supervision on a consolidated basis, which will now only include bes, effective 30 june 2014. for supervisory purposes, the change to the consolidation perimeter has marginal impact. indeed, esfg ’ s banking activity was focused on bes and its subsidiaries : bes group represents around 96 % of esfg ’ s banking assets, 95 % of the regulatory capital requirements, 96 % of the banking turnover and 92 % of the operating expenses. furthermore, esfg does not make use of any eurosystem refinancing operation, except the operations to provide liquidity to bes group. bis central bankers ’ speeches

carlos da silva costa : opening address - 8th conference of the central balance - sheet database opening address by mr carlos da silva costa, governor of the bank of portugal, at the 8th conference of the central balance - sheet database " the buoyancy of the corporate sector ", lisbon, 4 february 2019. * * * as prepared for delivery. good afternoon. welcome to another conference of banco de portugal ’ s central balance - sheet database. it is always with great pleasure that i associate myself with this event, hosted by the statistics department of banco de portugal, and which is in its eighth edition. the information produced and made available by the central balance - sheet database is a valuable asset, which we are proud to preserve and improve. not only is it a valuable asset for banco de portugal, as producer of studies on the portuguese economic reality, but also, and above all, a valuable asset for firms, economic decision - makers, academia and society in general. the central balance - sheet database is, as you know, fed by so - called ies – simplified corporate information. the ies, created a dozen years ago within the scope of the simplex programme, is an internationally admired success case and a notable example of interinstitutional cooperation and articulation, involving banco de portugal, the ministries of justice and finance, and statistics portugal. as a result of this joint effort, the central balance - sheet database produces and releases information that is rich, wide - ranging and conducive to a timely and thorough knowledge of firms ’ financial and economic situations, which is almost unrivalled at international level. the potential of this wealth is enormous as it : allows business owners and managers to frame their enterprise in the sector and size class to which it belongs, to make international comparisons and to assess business and investment opportunities ; provides policy - makers with knowledge of the microeconomic reality that is fundamental to successfully design the institutional and regulatory framework ; and allows analysts and researchers to improve understanding of the corporate reality and thereby the performance of the portuguese economy. the study on the buoyancy of the corporate sector in portugal, which will be presented today and will serve as the basis for the subsequent discussion, is a perfect illustration of this. the results of this study provide very relevant clues to understanding the reaction of economic agents to the crisis we went through recently, and also to acknowledging the challenges we face. in this study, we can find signs of the emergence, as a result