family - run firms in different ways, amongst which i would highlight the development and provision of the “ family holding ” concept, as the legal expression of a centralised management model of the holdings of members of a single family. always taking on an optional and supplementary nature, this legal concept would be especially effective if provided with a simple statutory and tax regime that was stable and easily accessible. in order to understand the dynamics of the corporate sector fully and promote it with maximum effectiveness, aggregated information will never be enough. it is indispensable to know the microeconomic and sociocultural mechanisms that, on the ground, determine economic agents ’ decisions and how they interact with the environment and public policies. only then will it be possible to understand, for example, the reasons for death rates among firms in their third and fourth years of life ; the positive and negative impact of the business environment on a firm, or the management model a certain entrepreneur chooses for their business. 2 / 3 bis central bankers'speeches this is where the central balance - sheet database reveals its worth, not only for the answers it provides, but also for the questions it enables. based on information like that which will be presented today, it should certainly be possible to find socioeconomic and multidisciplinary lines of research for fieldwork, leading to the micro - and macroeconomic data that we see in our tables and charts. let me therefore finish by inviting you to get to know the information that banco de portugal is providing today, and searching it for answers and the questions that will lead us to an ever - more dynamic corporate sector. thank you very much. keep up the good work. 3 / 3 bis central bankers'speeches

while retaining a focus on lmi communities. in addition, the anpr seeks feedback about clarifying the definitions of qualifying activities and broadening certain definitions in targeted ways. for example, the board is considering defining cra - eligible activities that create or preserve naturally occurring affordable housing and is considering whether to broaden the set of volunteer activities that would qualify in rural areas. the board is also clarifying when a government or tribal plan is required to qualify activities that revitalize and stabilize communities. this is especially important in indian country, where we want to encourage banks to make impactful investments that have the support of tribal governments and to increase certainty about how these activities qualify for cra credit. recognizing the special circumstances of small banks in rural areas stakeholder feedback emphasized that smaller retail banks play a vital role in many underserved communities, such as in rural areas. accordingly, the anpr provides small banks in rural areas operating in just a portion of a large county greater clarity and flexibility in - 13 tailoring the facility - based assessment area definition. the anpr proposes that a small bank would not be required to expand the delineation of an assessment area to include parts of counties where it does not have a physical presence and where it either engages in a de minimis amount of lending or there is substantial competition from other institutions, except in limited circumstances. in addition, the anpr proposes to revise the definition of community development services to include a wider range of volunteer activities to address the particular needs of rural areas. the path ahead it has been 25 years since the last significant revision to the cra regulation, so it is important to get reform right. we are providing an extended 120 - day comment period to allow ample time for thoughtful feedback from a broad set of stakeholders. the input from stakeholders thus far has been tremendously valuable, and we appreciate the care and concern expressed in the many comment letters and other forms of input on this important regulation. in the weeks and months ahead, we look forward to reviewing your comments and analyzing options for greater impact, including changes to address the inequities and challenges faced by minority communities and individuals. this feedback is critically important, and we are ready to listen. stakeholders have expressed strong support for the agencies to work together to modernize the cra. by reflecting stakeholder views and providing a long period for public comment, the anpr is intended to build a foundation for the banking agencies to converge on a consistent approach to strengthening the cr