BE June 2011 - bportugal.pt · In this context, the Statistical Bulletin will include, as from the...

BOLETIM ESTATSTICO

STATISTICAL BULLETIN

6 |2011

Lisboa, 2011

Disponvel emwww.bportugal.pt

Publicaes EstatsticasBanco de Portugal

E U R O S I S T E M A

Banco de Portugal

Departamento de Estatstica

Edifcio Adamastor, Torre A

Av. D. Joo II, Lote 1.12.02

1990-204 Lisboa

Distribuio

Departamento de Servios de Apoio

Av. Almirante Reis, 71/2

1150-012 Lisboa

Impresso e Acabamento

RIP - Artes Grficas

Tiragem

250 exemplares

Depsito Legal n 86640/95

ISSN 0872-9751 (impresso)

ISSN 2182-0538 (on-line)

1

Statistical Press Release | Lisboa, 22nd June 2011 |

New Chapter A Main Indicators

With a view to improving the disclosure of the statistical information compiled within the scope of its tasks, Banco de Portugal has endeavoured to meet the statistical information needs of the different types of users, making available and updating on a regular basis a wide range of statistical data. Therefore, changes have been regularly introduced in the structure and contents of the statistical information published in the Statistical Bulletin of Banco de Portugal, in BPstat - Statistics online and in the Statistics section of the Banco de Portugals website.

In this context, the Statistical Bulletin will include, as from the present June 2011 issue, a wider range of statistical indicators on the Portuguese and international economy. The new Chapter A Main Indicators is broken down into the following 19 statistical information areas: National Accounts; Economic Activity Indicators; Labour Market; Productivity and Labour Costs; Prices; Financial Accounts; Monetary Aggregates; Monetary Policy Operations; Banking Loans and Deposits; Banking Interest Rates Loans and Deposits; Loans Granted by the Financial Sector; Financial Markets; Exchange Rates; Public Finances; General Government Financing and Direct State Debt; Balance of Payments; External Trade of Goods and Services; International Investment Position and Non-Financial Corporations from the Central Balance-Sheet Database.

The new indicators are reflected in several statistical tables, which on the whole use 548 statistical series (compared with 105 series in the previous version of this chapter of the Statistical Bulletin) and statistical charts, which make use of 260 statistical series (compared with only 6 series in the previous version of this chapter of the Statistical Bulletin). Whenever possible and when it is deemed useful, indicators are presented not only for Portugal, but also for the euro area and the United States.

The series relating to all indicators published in the new Chapter A, as well as the respective metadata, are now directly available on a dedicated area of BPstat - Statistics online, under chronological series.

The new Chapter A also includes new indicators on the general government debt-deficit adjustment and new indicators on the financial situation of non-financial corporations.

The information on the debt-deficit adjustment, disclosed in Section A.14, makes it possible to measure the share of the change in the public debt that is not explained by the simple accumulation of the general government deficit or surplus. In principle, the public debt increases in deficit situations and decreases when surpluses are recorded in the general government accounts; nevertheless, adjustments can be observed due to other factors. A positive debt-deficit adjustment implies that the public debt increases more than accounted for by the accumulation of deficit (or decreases less than accounted for by the accumulation of surplus). Conversely, a negative debt-deficit adjustment implies that the public debt increases less than the value of the deficit (or decreases more than the accumulation of surplus). The

2

| Statistical Press Release | Lisboa, 22nd June 2011 |

debt-deficit adjustment is chiefly justified by the purchase of financial assets (e.g. shares), privatisation operations, change in trade credits and valuation differences.

The new economic and financial ratios and the average maturities of amounts payable/receivable, disclosed in Section A.19, are based on quarterly and annual data of the Central Balance-Sheet Database. These indicators take as a reference the value calculated for the most recent period, while the values for the previous periods are computed by applying rates of change calculated taking as a basis subsets of common companies in pairs of consecutive years.

The tables with detailed information on inflation, formerly included in Chapter A, are now disclosed in Chapter H General Statistics.

ANNEX | New Chapter A published in the Statistical Bulletin |

Junho 2011

Acesso online atravs da Internet Base de

Dados Estatstica Interactiva do Banco de

Portugal

O BPstat | Estatsticas online | corresponde a um sistema deacesso online atravs da Internet Base de Dados EstatsticaInteractiva do Banco de Portugal, possibilitando a difuso deestatsticas relevantes sobre a economia portuguesa, estandodisponvel em verso portuguesa e inglesa.

O seu objectivo principal consiste em facultar um acesso fcil eclere s sries estatsticas produzidas pelo Banco de Portugal es principais estatsticas e indicadores econmicos daresponsabilidade de outras instituies.

Este servio disponibiliza, alm de um conjunto alargado deinformao estatstica (dados e metainformao), diversasfuncionalidades que permitem aos utilizadores personalizar eutilizar este sistema de uma forma interactiva.

O acesso ao BPstat | Estatsticas online | pode ser efectuadoatravs da pgina principal do stio do Banco de Portugal naInternet www.bportugal.pt ou, de uma forma mais directa, atravsdo endereo Web http://apl1.bportugal.pt/estatisticasweb.

A informao estatstica encontra-se acessvel sob duas formas:sries cronolgicas e explorao multidimensional.

A vertente cronolgica disponibiliza a informao estatstica deuma forma estruturada a partir de uma rvore de domniosestatsticos.

A vertente multidimensional disponibiliza a informao estatsticacruzando as diversas dimenses de anlise dos domniosestatsticos.

Todos os domnios estatsticos esto disponveis na vertentecronolgica e na vertente multidimensional, sendo que, pela suanatureza, esta ltima permite uma explorao mais detalhada dosdados estatsticos.

Os utilizadores podem aceder a quadros predefinidos ou construiros seus prprios quadros, podendo para cada domnio seleccionaras dimenses pretendidas (por exemplo: tipo de operao, sectorde actividade econmica, sector institucional e territrio) e, dentrode cada uma das dimenses, os respectivos membros (porexemplo: Frana e Espanha na dimenso territrio). Os dadospodem ser visualizados sob a forma de grficos na vertentemultidimensional, podendo proceder-se respectiva impresso ou,ainda, efectuar a exportao dos quadros e da metainformaoassociada para uma folha de clculo.

Os utilizadores podem guardar e aceder a quadros estatsticos quetenham sido previamente construdos, atravs da funcionalidadeFavoritos. Tal permite, nos acessos posteriormente efectuados,visualizar de forma imediata as actualizaes das estatsticasseleccionadas. ainda possvel criar Alertas, o que permite arecepo de um aviso atravs de e-mail de todas as actualizaessobre a informao escolhida pelo utilizador.

O registo necessrio para beneficiar destas funcionalidades.Aps o registo as mesmas ficam disponveis atravs da oporea pessoal na barra superior.

Para qualquer esclarecimento adicional sobre a utilizao desteservio do Banco de Portugal poder recorrer aos seguintescontactos: e-mail: [email protected] ou telefone:+351 21 893 1320.

Internet online access to the Banco de Portugal

Statistical Interactive Database

BPstat Statistics online is an Internet online access to the Banco dePortugal Statistical Interactive Database, providing relevantstatistical information about the Portuguese economy, available onthe Banco de Portugal: www.bportugal.pt.

The main purpose of this web-based information service is to makeavailable an easy and quick access to the statistics compiled byBanco de Portugal, as well as to the statistics and economicindicators compiled by other institutions.

This service provides not only a wide range of statistical information(data and metadata), but there are also functionalities enablingpersonalised and interactive use of the system.

Statistical information is available in two formats: time seriesanalysis and multidimensional analysis.

The time series analysis approach offers the possibility of exploringthe data of the statistical domains organised in hierarchicalstructures.

The multidimensional analysis enables the possibility of combiningseveral dimensions of the statistical domains.

All the statistical domains are available in the Time series and in themultidimensional components. However, by its nature, the lastallows a more detailed exploration of the statistical data.

In the multidimensional analysis, users may access predefinedtables or proceed to the construction of personalised tables. It ispossible for each domain to select the dimensions for analysis (i.e.,Data Type, Resident Economic Activity, Institutional Sector andTerritory) and, for each dimension, the respective members (i.e.,France and Spain in the dimension Territory). Data may bevisualised as a chart, printed or exported to a spreadsheet (dataand/or metadata).

Users may save personalised statistical tables for future access viathe Favourites option. This functionality leads to the immediatevisualization of the selected statistical series duly updated. It is alsopossible to create Alerts messages, allowing the users to benotified by e-mail of updates relating to the subscribed data.

Access to the functionalities Favourites and Alerts requiresregistration. After registration, these functionalities becomeavailable under the option Personal area on the upper bar.

For further information please read the Help or contact us via thee-mail address [email protected], or via the phonenumber: +351 21 893 1320.

BANCO DE PORTUGAL | Boletim Estatstico

Notas aos Quadros

Os quadros apresentados no Boletim Estatstico incluem dois tiposde notas:

Notas identificadas por letras, cujo texto informativo apresentado nas "Notas explicativas", constantes doCaptulo K.

Notas identificadas por nmeros ou outros smbolos, cujotexto informativo apresentado no final do prprio quadro.

Special Data Dissemination Standard

Em Abril de 1996 o Fundo Monetrio Internacional (FMI) criou oSpecial Data Dissemination Standard (SDDS) visando reforar atransparncia, integridade, actualidade e qualidade da informaoestatstica. No mbito do SDDS disponibilizada informao sobre:dados macroeconmicos; poltica de divulgao ao pblico;poltica de revises e metodologias subjacentes preparao dainformao estatstica.

Portugal aderiu ao SDDS em Outubro de 1998, podendo serconsultada a informao relativa a Portugal no 'DisseminationStandard Bulletin Board' (DSBB) do FMI, acessvel na Internet -http://dsbb.imf.org.

Em articulao com o calendrio de divulgao estabelecido noSDDS, igualmente disponvel no referido endereo da Internet, oBanco de Portugal publica, em primeira mo, na Internet -www.bportugal.pt - as relevantes estatsticas sobre Contas daAdministraes Pblicas - Contas Financeiras, Contas daAdministrao Central - Financiamento, Contas do Sector Bancrioe do Banco de Portugal, Taxas de Juro, Balana de Pagamentos,Posio de Investimento Internacional, Reservas Internacionais eDvida Externa.

A informao estatstica abrangida pelo SDDS, relativa a Portugal, compilada pelo Ministrio das Finanas, pelo Instituto Nacionalde Estatstica, pela Euronext Lisboa e pelo Banco de Portugal.

Notes in the Tables

There are two types of notes to the tables in the StatisticalBulletin:

Notes identified by letters, and these will be found in the"Explanatory notes" in Chapter K.

Notes identified by figures or other characters, and thesewill be found at the bottom of the table.

Special Data Dissemination Standard

In April 1996, the International Monetary Fund (IMF) created theSpecial Data Dissemination Standard(SDDS) with the objective ofimproving the dissemination of reliable, comprehensive and timelyeconomic, financial and socio-demographic data. The SDDSprovides information on macroeconomic data; release, revisionand dissemination practices; and statistical methodologies.

Portugal adopted the SDDS in October 1998. Information onPortuguese statistics is provided on the IMF DisseminationStandard Bulletin Board (DSBB) and is available onhttp://dsbb.imf.org.

According to the SDDS advance release calendar, also availableon the IMF website, the Banco de Portugal publishes the relevantstatistics on its website as soon as they are released. These arestatistics on General Government OperationsFinancial Accounts,Central Government OperationsFinancing, Analytical Accountsof the Banking Sector, Analytical Accounts of the Central Bank,Interest Rates, Balance of Payments, International InvestmentPosition, International Reserves and Foreign Currency Liquity andExternal Debt.

The statistical data for Portugal are compiled by the Ministry ofFinance, the Statistics Portugal, Euronext Lisboa and the Banco dePortugal.

NDICE CONTENTS

A. Principais indicadores A. Main indicatorsB. Estatsticas monetrias e financeiras B. Monetary and financial statisticsB.0B.1

Agregados monetrios e principais contrapartidasSntese monetria

B.0B.1

Monetary aggregates and main counterpartsMonetary survey

B.2 Balano do Banco de Portugal B.2 Balance sheet of the Banco de PortugalB.3 Balano das outras instituies financeiras monetrias B.3 Balance sheet of the other monetary financial institutionsB.4 Detalhes dos activos das outras instituies financeiras B.4 Details of the assets of other monetary financial institutions

monetrias face a residentes vis--vis residentsB.5 Detalhes dos passivos das outras instituies financeiras

monetrias face a residentesB.5 Details of the liabilities of other monetary financial institutions

vis--vis residentsB.6 Detalhes dos activos e passivos das outras instituies

financeiras monetrias face a no residentesB.6 Details of the assets and liabilities of other monetary financial

institutions vis--vis non-residentsB.7 Taxas de juro e rendibilidade das instituies financeiras

monetriasB.7 Monetary financial institutions interest rates and profitability

B.8 Informao sobre instituies financeiras no monetrias B.8 Information on non-monetary financial institutionsB.9 Informao estatstica da Central de Responsabilidades de

CrditoB.9 Central Credit Register statistical information

B.10 Mercados de ttulos B.10 Securities markets

C. Estatsticas da balana de pagamentos e da posiode investimento internacional

C. Balance of payments and international investment

position statisticsC.0C.1

Estatsticas da balana de pagamentosBalanas corrente e de capital

C.0C.1

Balance of payments statisticsCurrent and capital accounts

C.2 Balana financeira C.2 Financial accountC.3 Posio de investimento internacional C.3 International investment position

D. Estatsticas cambiais D. Exchange rate statisticsD.1 Taxas de cmbio D.1 Exchange ratesD.2 Actividade nos mercados de cmbios e de produtos

derivadosD.2 Foreign exchange and derivatives market activity

E. Estatsticas das finanas pblicas E. Public finance statisticsE.1 Financiamento das Administraes Pblicas E.1 General Government financing

E.2 Receitas e despesas do Estado e da Segurana Social E.2 State and Social Security revenue and expenditure

E.3 Capacidade / necessidade lquida de financiamento edvida das Administraes Pblicas

E.3 Net lending / net borrowing and debt of General Government

F. Contas nacionais financeiras F. National financial accountsF.1 Contas nacionais financeiras -Transaces F.1 Nacional financial accounts - TransactionsF.2 Contas nacionais financeiras - Patrimnios financeiros F.2 Nacional financial accounts - Financial assets and liabilities

G. Estatsticas das empresas no financeiras daCentral de Balanos

G. Statistics on non-financial corporations from the

Central Balance-Sheet DatabaseG.1 Caractersticas da informao da Central de Balanos G.1 Features of the Central Balance-Sheet DatabaseG.2 Indicadores de actividade G.2 Activity indicatorsG.3 Nmero de pessoas ao servio e remuneraes G.3 Number of employees and wagesG.4 Activos e passivos financeiros G.4 Financial assets and liabilitiesG.5 Rcios G.5 Ratios

H. Estatsticas gerais H. General statisticsH.0H.1H.2H.3

Contas nacionais trimestraisIndicadores de actividade econmicaEmprego e salriosInflao

H.0H.1H.2H.3

Quarterly national accountsEconomic activity indicatorsEmployment and wagesInflation

I. Estatsticas de emisso monetria I. Statistics on currency issuanceI.1 Emisso de notas I.1 Banknotes issuance

I.2 Emisso de moedas I.2 Coins issuance

J. Sistemas de pagamentos J. Payment systemJ.1 Caracterizao geral do sistema de pagamentos

portugus

J.1 Characterization of the portuguese payment system

J.2 Sistemas de liquidao e compensao interbancria

em Portugal

J.2 Interbank clearing and settlement systems in Portugal

J.3 Instrumentos de pagamento nos sistemas de

compensao e liquidao

J.3 Payment instruments in the interbank clearing and

settlement systems

K. Notas K. Notes

A. PRINCIPAIS INDICADORES A. MAIN INDICATORS

A.1 Contas nacionais . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 A.1 National accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

A.2 Indicadores de actividade econmica . . . . . . . . . . . . . . . . . . 21 A.2 Economic activity indicators . . . . . . . . . . . . . . . . . . . . . . . . . 22

A.3 Mercado de trabalho . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 A.3 Labour market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

A.4 Produtividade e custos laborais . . . . . . . . . . . . . . . . . . . . . . 25 A.4 Productivity and labour costs . . . . . . . . . . . . . . . . . . . . . . . . 26

A.5 Preos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 A.5 Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Junho 2011 5

A.6 Contas financeiras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 A.6 Financial accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

A.7 Agregados monetrios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 A.7 Monetary aggregates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

A.8 Operaes de poltica monetria . . . . . . . . . . . . . . . . . . . . . 33 A.8 Monetary policy operations . . . . . . . . . . . . . . . . . . . . . . . . . . 34

A.9 Emprstimos e depsitos bancrios . . . . . . . . . . . . . . . . . . . 35 A.9 Banking loans and deposits . . . . . . . . . . . . . . . . . . . . . . . . . . 36

A.10A.11A.12A.13A.14A.15

A.16A.17A.18A.19

Taxas de juro bancrias - emprstimos e depsitos . . . . . . .Emprstimos concedidos pelo sector financeiro . . . . . . . . . .Mercados financeiros . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Taxas de cmbio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Finanas pblicas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Financiamento das Administraes Pblicas e dvidadirecta do estado . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Balana de pagamentos . . . . . . . . . . . . . . . . . . . . . . . . . . . .Comrcio internacional de bens e servios . . . . . . . . . . . . .Posio de investimento internacional . . . . . . . . . . . . . . . . .Empresas no financeiras da central de balanos . . . . . . . .

3739414345

4749515355

A.10A.11A.12A.13A.14A.15

A.16A.17A.18A.19

Banking interest rates - loans and deposits . . . . . . . . . . . . . .Loans granted by the financial sector . . . . . . . . . . . . . . . . . . . .Financial markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Exchange rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Public finances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .General Government financing and state direct debt . . . . . . . .

Balance of payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .External trade of goods and services . . . . . . . . . . . . . . . . . . . .International investment position. . . . . . . . . . . . . . . . . . . . . . . .Non-financial corporations from the central balance-sheetdatabase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

384042444648

505254

56

B. ESTATSTICAS MONETRIAS E FINANCEIRAS B. MONETARY AND FINANCIAL STATISTICS

B.0 AGREGADOS MONETRIOS E PRINCIPAISCONTRAPARTIDAS

B.0 MONETARY AGGREGATES AND MAIN

COUNTERPARTS

B.0.1 Agregados monetrios da rea do euro . . . . . . . . . . . . . . . . 59 B.0.1 Euro area monetary aggregates . . . . . . . . . . . . . . . . . . . . . . 59

B.0.2 Contribuio nacional para os agregados monetrios darea do euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59

B.0.2 National contribution for the euro area monetary aggregates . 59

B.0.3 Principais contrapartidas do M3 da rea do euro . . . . . . . . . 60 B.0.3 Main counterparts of euro area M3 . . . . . . . . . . . . . . . . . . . . 60

B.0.4 Contribuio nacional para as principais contrapartidas doM3 da rea do euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

B.0.4 National contribution for the main counterparts of euro areaM3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

B.0.5 Agregados monetrios da rea do euro e contribuionacional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

B.0.5 Monetary aggregates of the euro area and nationalcontribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

B.1 SNTESE MONETRIA B.1 MONETARY SURVEY

B.1.1 Sntese Monetria - Activo . . . . . . . . . . . . . . . . . . . . . . . . . . 63 B.1.1 Monetary survey - Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

B.1.1 Sntese Monetria - Passivo . . . . . . . . . . . . . . . . . . . . . . . . . 63 B.1.1 Monetary survey - Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 63

B.1.2 Contrapartida da variao dos passivos at 2 anos face aosector no monetrio excepto Administrao Central . . . . . 64

B.1.2 Counterparts to changes in liabilities up to 2 years vis--visnon-monetary sector except Central Government . . . . . . . . 64

B.1.3 Agregados de crdito interno . . . . . . . . . . . . . . . . . . . . . . . . 65 B.1.3 Domestic credit aggregates . . . . . . . . . . . . . . . . . . . . . . . . . 65

B.1.4 Passivos at 2 anos face ao sector residente nomonetrio (excepto Administrao Central) . . . . . . . . . . . . . 65

B.1.4 Liabilities up to 2 years vis--vis non-monetary residentsector (except Central Government) . . . . . . . . . . . . . . . . . . . 65

B.1.5 Por memria: emprstimos cedidos por outras IFM emoperaes de titularizao. . . . . . . . . . . . . . . . . . . . . . . . . . . 66

B.1.5 Memo items: loans sold by other MFI through securitisation . . 66

B.2 BALANO DO BANCO DE PORTUGAL B.2 BALANCE SHEET OF THE BANCO DE PORTUGAL

B.2.1 Balano do Banco de Portugal . . . . . . . . . . . . . . . . . . . . . . . 67 B.2.1 Balance sheet of the Banco de Portugal . . . . . . . . . . . . . . . . 67

B.2.2.1 Activos do Banco de Portugal face a residentes. . . . . . . . . . 67 B.2.2.1 Assets of the Banco de Portugal vis--vis residents . . . . . . . 67

B.2.2.2 Passivos do Banco de Portugal face a residentes . . . . . . . . 68 B.2.2.2 Liabilities of the Banco de Portugal vis--vis residents . . . . . 68

B.2.3.1 Activos do Banco de Portugal face a no residentes . . . . . 68 B.2.3.1 Assets of the Banco de Portugal vis--vis non-residents . . . 68

B.2.3.2 Passivos do Banco de Portugal face a no residentes . . . . 69 B.2.3.2 Liabilities of the Banco de Portugal vis--vis non-residents . 69

B.2.4 Activos e passivos do Banco de Portugal face a noresidentes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

B.2.4 Assets and liabilities of the Banco de Portugal vis--visnon-residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

B.3 BALANO DAS OUTRAS INSTITUIESFINANCEIRAS MONETRIAS

B.3 BALANCE SHEET OF OTHER MONETARY FINANCIAL

INSTITUTIONS

B.3.0 Balano consolidado das outras instituies financeirasmonetrias (residentes) - Activo . . . . . . . . . . . . . . . . . . . . . . 71

B.3.0 Other (resident) monetary financial institutions consolidatedbalance sheet - Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

B.3.0 Balano consolidado das outras instituies financeirasmonetrias (residentes) - Passivo. . . . . . . . . . . . . . . . . . . . . 71

B.3.0 Other (resident) monetary financial institutions consolidatedbalance sheet - Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71

B.3.1 Activos e passivos das outras instituies financeirasmonetrias face a instituies financeiras monetrias . . . . . 72

B.3.1 Assets and liabilities of other monetary financial institutionsvis--vis monetary financial institutions . . . . . . . . . . . . . . . . . 72

B.3.2.1 Activos e passivos das outras instituies financeirasmonetrias face a outros intermedirios financeiros eauxiliares financeiros . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72

B.3.2.1 Assets and liabilities of other monetary financial institutionsvis--vis other financial intermediaries and financialauxiliaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72

B.3.2.2 Activos e passivos das outras instituies financeirasmonetrias face a sociedades de seguros e fundos depenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

B.3.2.2 Assets and liabilities of other monetary financial institutionsvis--vis insurance corporations and pension funds . . . . . . . 73

B.3.3.1 Activos e passivos das outras instituies financeirasmonetrias face Administrao Central . . . . . . . . . . . . . . . 73

B.3.3.1 Assets and liabilities of other monetary financial institutionsvis--vis Central Government. . . . . . . . . . . . . . . . . . . . . . . . . 73

B.3.3.2 Activos das outras instituies financeiras monetrias faces Administraes Pblicas excepto Administrao Central 74

B.3.3.2 Assets of other monetary financial institutions vis--visGeneral Government except Central Government . . . . . . . . 74

B.3.3.3 Passivos das outras instituies financeiras monetriasface s Administraes Pblicas excepto AdministraoCentral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74

B.3.3.3 Liabilities of other monetary financial institutions vis--visGeneral Government except Central Government . . . . . . . . 74

6 BANCO DE PORTUGAL | Boletim Estatstico

B.3.4 Activos e passivos das outras instituies financeirasmonetrias face a sociedades no financeiras . . . . . . . . . . . 75

B.3.4 Assets and liabilities of other monetary financial institutionsvis--vis non-financial corporations . . . . . . . . . . . . . . . . . . . . 75

B.3.5 Activos e passivos das outras instituies financeirasmonetrias face a particulares . . . . . . . . . . . . . . . . . . . . . . . 75

B.3.5 Assets and liabilities of other monetary financial institutionsvis--vis private individuals . . . . . . . . . . . . . . . . . . . . . . . . . . 75

B.3.6 Activos e passivos das outras instituies financeirasmonetrias face a emigrantes . . . . . . . . . . . . . . . . . . . . . . . 76

B.3.6 Assets and liabilities of other monetary financial institutionsvis--vis emigrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76

B.3.7.1 Activos das outras instituies financeiras monetrias facea no residentes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76

B.3.7.1 Assets of other monetary financial institutions vis--visnon-residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76

B.3.7.2 Passivos das outras instituies financeiras monetriasface a no residentes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

B.3.7.2 Liabilities of other monetary financial institutions vis--visnon-residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

B.3.8 Activos e passivos das outras instituies financeirasmonetrias - Sector no especificado . . . . . . . . . . . . . . . . . . 77

B.3.8 Assets and liabilities of other monetary financial institutions -Non-specified sector. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77

B.3.9.1 Balano agregado do sistema bancrio - Actividadeconsolidada NIC/ NCA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78

B.3.9.1 Aggregated balance sheet of the banking system -Consolidated activity IAS / AAS . . . . . . . . . . . . . . . . . . . . . . . 78

B.3.9.2 Demonstrao de resultados agregada do sistemabancrio - Actividade consolidada NIC / NCA. . . . . . . . . . . . 79

B.3.9.2 Profit and loss account of the banking system -Consolidates activity IAS / AAS . . . . . . . . . . . . . . . . . . . . . . 79

B.3.9.3 Balano agregado do sistema bancrio - Actividadeconsolidada NIC/ NCA - Excluindo instituies com sede nooff-shore da Madeira . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80

B.3.9.3 Aggregated balance sheet of the banking system -Consolidated activity IAS / AAS - Excluding institutions withhead office in Madeira off-shore. . . . . . . . . . . . . . . . . . . . . . . 80

B.3.9.4 Demonstrao de resultados agregada do sistemabancrio - Actividade consolidada NIC / NCA- Excluindoinstituies com sede e/ou actividade predominante nooff-shore da Madeira . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81

B.3.9.4 Profit and loss account of the banking system -Consolidates activity IAS / AAS - Excluding institutions withhead office in Madeira off-shore. . . . . . . . . . . . . . . . . . . . . . . 81

B.4 DETALHES DOS ACTIVOS DAS OUTRAS INSTITUIESFINANCEIRAS MONETRIAS FACE A RESIDENTES

B.4 DETAILS OF THE ASSETS OF OTHER MONETARY FINANCIAL

INSTITUTIONS VIS--VIS RESIDENTS

B.4.1.1 Emprstimos de outras instituies financeiras monetriass instituies financeiras no monetrias . . . . . . . . . . . . . 83

B.4.1.1 Loans of other monetary financial institutions tonon-monetary financial institutions . . . . . . . . . . . . . . . . . . . . 83

B.4.1.2 Emprstimos de outras instituies financeiras monetriass Administraes Pblicas excepto Administrao Central 83

B.4.1.2 Loans of other monetary financial institutions to GeneralGovernment except Central Government . . . . . . . . . . . . . . . 83

B.4.1.3 Emprstimos de outras instituies financeiras monetriass sociedades no financeiras . . . . . . . . . . . . . . . . . . . . . . . 84

B.4.1.3 Loans of other monetary financial institutions tonon-financial corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

B.4.1.4 Emprstimos de outras instituies financeiras monetriasa particulares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

B.4.1.4 Loans of other monetary financial institutions to privateindividuals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

B.4.1.5 Emprstimos de outras instituies financeiras monetriasa particulares por finalidade . . . . . . . . . . . . . . . . . . . . . . . . . 85

B.4.1.5 Loans of other monetary financial institutions to privateindividuals by purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85

B.4.2.1 Emprstimos de outras instituies financeiras monetriasa sociedades no financeiras . . . . . . . . . . . . . . . . . . . . . . . 86

B.4.2.1 Loans of other monetary financial institutions tonon-financial corporations . . . . . . . . . . . . . . . . . . . . . . . . . . 86

B.4.2.2 Emprstimos de outras instituies financeiras monetriasa sociedades no financeiras da indstria transformadora . 87

B.4.2.2 Loans of other monetary financial institutions tonon-financial corporations of the manufacturing industry . . . 87

B.4.2.3 Emprstimos de outras instituies financeiras monetriasa sociedades no financeiras por ramo de actividade . . . . . 88

B.4.2.3 Loans of other monetary financial institutions tonon-financial corporations by branch of activity . . . . . . . . . . . 88

B.4.3 Activos em moeda estrangeira de outras instituiesfinanceiras monetrias face ao sector no monetrio . . . . . 89

B.4.3 Assets denominated in foreign currency of other monetaryfinancial institutions vis--vis non-monetary sector . . . . . . . 89

B.4.4 Emprstimos de outras instituies financeiras monetriasa sociedades no financeiras e particulares . . . . . . . . . . . . . 89

B.4.4 Loans of other monetary financial institutions tonon-financial corporations and to private individuals . . . . . . 89

B.5 DETALHES DOS PASSIVOS DE OUTRAS INSTITUIESFINANCEIRAS MONETRIAS FACE A RESIDENTES

B.5 DETAILS OF THE LIABILITIES OF OTHER MONETARY

FINANCIAL INSTITUTIONS VIS--VIS RESIDENTS

B.5.1.1 Depsitos e equiparados de outros intermediriosfinanceiros e auxiliares financeiros em outras instituiesfinanceiras monetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

B.5.1.1 Deposits and deposit-like instruments of other financialintermediaries and financial auxiliaries with other monetaryfinancial institutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

B.5.1.2 Depsitos e equiparados de sociedades de seguros efundos de penses em outras instituies financeirasmonetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

B.5.1.2 Deposits and deposit-like instruments of insurancecorporations and pension funds with other monetaryfinancial institutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91

B.5.1.3 Depsitos e equiparados da Administrao Central emoutras instituies financeiras monetrias . . . . . . . . . . . . . . 92

B.5.1.3 Deposits and deposit-like instruments of CentralGovernment with other monetary financial institutions . . . . . 92

B.5.1.4 Depsitos e equiparados das Administraes Pblicasexcepto Administrao Central em outras instituiesfinanceiras monetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92

B.5.1.4 Deposits and deposit-like instruments of GeneralGovernment except Central Government with othermonetary financial institutions . . . . . . . . . . . . . . . . . . . . . . . . 92

B.5.1.5 Depsitos e equiparados de sociedades no financeirasem outras instituies financeiras monetrias . . . . . . . . . . . 93

B.5.1.5 Deposits and deposit-like instruments of non-financialcorporations with other monetary financial institutions . . . . . 93

B.5.1.6 Depsitos e equiparados de particulares em outrasinstituies financeiras monetrias . . . . . . . . . . . . . . . . . . . 93

B.5.1.6 Deposits and deposit-like instruments of private individualswith other monetary financial institutions . . . . . . . . . . . . . . . . 93

B.5.2 Depsitos e equiparados em moeda estrangeira do sectorno monetrio em outras instituies financeirasmonetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

B.5.2 Foreign currency deposits and deposit-like instruments ofnon-monetary sector with other monetary and financialinstitutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

B.5.3.1 Depsitos e equiparados de instituies financeiras nomonetrias, sociedades no financeiras e particulares emoutras IFM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

B.5.3.1 Deposits and deposit-like instruments of non-monetaryfinancial institutions, non-financial corporations and privateindividuals with other MFI . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

B.5.3.2 Depsitos e equiparados de emigrantes em outrasinstituies financeiras monetrias . . . . . . . . . . . . . . . . . . . 95

B.5.3.2 Deposits and deposit-like instruments of emigrants withother monetary and financial institutions . . . . . . . . . . . . . . . . 95

Junho 2011 7

B.6 DETALHES DOS ACTIVOS E PASSIVOS DE OUTRASINSTITUIES FINANCEIRAS MONETRIAS FACE A NORESIDENTES

B.6 DETAILS OF THE ASSETS AND LIABILITIES OF

OTHER MONETARY FINANCIAL INSTITUTIONS

VIS--VIS NON-RESIDENTS

B.6.1.1 Activos e passivos das outras instituies financeirasmonetrias face a instituies financeiras monetrias noresidentes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97

B.6.1.1 Assets and liabilities of other monetary financial institutionsvis--vis non-resident monetary financial institutions . . . . . . 97

B.6.1.2 Activos e passivos das outras instituies financeirasmonetrias face ao sector no monetrio no residente . . . 97

B.6.1.2 Assets and liabilities of other monetary financial institutionsvis--vis non-resident non-monetary sector . . . . . . . . . . . . . 97

B.6.2 Activos e passivos das outras instituies financeirasmonetrias face a no residentes . . . . . . . . . . . . . . . . . . . . . 98

B.6.2 Assets and liabilities of other monetary financial institutionsvis--vis non-residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98

B.6.3.1 Activos das outras instituies financeiras monetrias facea instituies financeiras monetrias no residentes . . . . . . 98

B.6.3.1 Assets of other monetary financial institutions vis--visnon-resident monetary financial institutions . . . . . . . . . . . . . 98

B.6.3.2 Passivos das outras instituies financeiras monetriasface a instituies financeiras monetrias no residentes . . 99

B.6.3.2 Liabilities of other monetary financial institutions vis--visnon-resident monetary financial institutions . . . . . . . . . . . . . 99

B.6.3.3 Activos das outras instituies financeiras monetrias faceao sector no monetrio no residente . . . . . . . . . . . . . . . . 99

B.6.3.3 Assets of other monetary financial institutions vis--visnon-resident non-monetary sector . . . . . . . . . . . . . . . . . . . . 99

B.6.3.4 Passivos das outras instituies financeiras monetriasface ao sector no monetrio no residente . . . . . . . . . . . . . 100

B.6.3.4 Liabilities of other monetary financial institutions vis--visnon-resident non-monetary sector . . . . . . . . . . . . . . . . . . . . 100

B.7 TAXAS DE JURO E RENDIBILIDADE DAS INSTITUIESFINANCEIRAS MONETRIAS

B.7 MONETARY FINANCIAL INSTITUTIONS INTEREST RATES

AND PROFITABILITY

B.7.0 Taxas de juro directoras do BCE. . . . . . . . . . . . . . . . . . . . . . 101 B.7.0 Key ECB interest rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101

B.7.1.1 Taxas de juro sobre novas operaes de emprstimosconcedidos por instituies financeiras monetrias aresidentes na rea do euro . . . . . . . . . . . . . . . . . . . . . . . . . . 102

B.7.1.1 Interest rates on new loans granted by monetary financialinstitutions to residents in the euro area . . . . . . . . . . . . . . . . 102

B.7.1.2 Montantes de novas operaes de emprstimosconcedidos por instituies financeiras monetrias aresidentes na rea do euro . . . . . . . . . . . . . . . . . . . . . . . . . . 103

B.7.1.2 New loans granted by monetary financial institutions toresidents in the euro area. . . . . . . . . . . . . . . . . . . . . . . . . . . . 103

B.7.1.3 Taxas de juro sobre novas operaes de depsitos comprazo acordado de residentes na rea do euro eminstituies financeiras monetrias . . . . . . . . . . . . . . . . . . . . 104

B.7.1.3 Interest rates on new deposits with agreed maturity placedby residents in the euro area with monetary financialinstitutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104

B.7.1.4 Montantes de novas operaes de depsitos com prazoacordado de residentes na rea do euro em instituiesfinanceiras monetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104

B.7.1.4 New deposits with agreed maturity placed by residents inthe euro area with monetary financial institutions . . . . . . . . . 104

B.7.1.5 Taxas de juro de saldos de emprstimos concedidos porinstituies financeiras monetrias a residentes na rea doeuro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105

B.7.1.5 Interest rates on outstanding amounts of loans granted bymonetary financial institutions to residents in the euro area . 105

B.7.1.6 Saldos de emprstimos concedidos por instituiesfinanceiras monetrias a residentes na rea do euro . . . . . . 106

B.7.1.6 Outstanding amounts of loans granted by monetaryfinancial institutions to residents in the euro area . . . . . . . . . 106

B.7.1.7 Taxas de juro de saldos de depsitos com prazo acordadode residentes na rea do euro em instituies financeirasmonetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107

B.7.1.7 Interest rates on outstanding amounts of deposits withagreed maturity placed by residents in the euro area withmonetary financial institutions . . . . . . . . . . . . . . . . . . . . . . . . 107

B.7.1.8 Saldos de depsitos com prazo acordado de residentes narea do euro em instituies financeiras monetrias . . . . . . 107

B.7.1.8 Outstanding amounts of deposits with agreed maturityplaced by residents in the euro area with monetary financialinstitutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107

B.7.2.1 Custos por natureza de outras instituies financeirasmonetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108

B.7.2.1 Other monetary financial institutions operating costs . . . . . . 108

B.7.2.2 Proveitos por natureza de outras instituies financeirasmonetrias . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109

B.7.2.2 Other monetary financial institutions operating income . . . . 109

B.8 INFORMAO SOBRE INSTITUIES FINANCEIRASNO MONETRIAS

B.8 INFORMATION ON NON-MONETARY FINANCIAL

INSTITUTIONS

B.8.1.1.1 Balano agregado dos fundos de investimento portugueses- Por tipo de instrumento . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111

B.8.1.1.1 Balance sheet of portuguese investment funds - By type ofinstrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111

B.8.1.1.2 Valor das unidades de participao emitidas por fundos deinvestimento, por poltica de investimento e tipo de fundo . . 111

B.8.1.1.2 Investment fund shares/units issued broken down byinvestment policy and type of fund . . . . . . . . . . . . . . . . . . . . . 111

B.8.1.1.3 Aplicaes dos fundos de investimento em ttulos - Por pasde residncia e sector institucional do emitente e tipo dettulo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112

B.8.1.1.3 Assets of investment funds in securities - By country ofresidence and institutional sector of the issuer and type ofsecurity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112

B.8.1.1.4 Responsabilidades dos fundos de investimento porunidades de participao emitidas - Por pas de residnciae sector institucional do investidor . . . . . . . . . . . . . . . . . . . . 112

B.8.1.1.4 Liabilities of investment funds by units issued - By country ofresidence and institutional sector of the investor . . . . . . . . . . 112

B.8.1.2.1 Transaces dos fundos de investimento - Por tipo deinstrumento . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113

B.8.1.2.1 Transactions of investment funds - By type of instrument . . . 113

B.8.1.2.2 Transaces dos fundos de investimento em ttulos - Porpas de residncia e sector institucional do emitente e tipode ttulo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113

B.8.1.2.2 Transactions of investment funds in securities - By countryof residence and institutional sector and type of security . . . 113

B.8.2.1.1 Balano dos outros intermedirios financeiros (exceptofundos de investimento) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114

B.8.2.1.1 Balance sheet of other financial intermediaries (excludingmutual funds) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114


B.8.2.1.2 Balano dos auxiliares financeiros . . . . . . . . . . . . . . . . . . . . 114 B.8.2.1.2 Balance sheet of financial auxiliaries . . . . . . . . . . . . . . . . . . . 114

B.8.2.2.1 Activos de outros intermedirios financeiros (exceptofundos de investimento) e auxiliares financeiros sob aforma de depsitos e outras aplicaes similares eminstituies financeiras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115

B.8.2.2.1 Deposits and other similar investments of other financialintermediaries (excluding mutual funds) and financialauxiliaries in financial institutions . . . . . . . . . . . . . . . . . . . . . 115

B.8.2.2.2 Ttulos em carteira de outros intermedirios financeiros(excepto fundos de investimento) e auxiliares financeiros . . 115

B.8.2.2.2 Securities of other financial intermediaries (excluding mutualfunds) and financial auxiliaries . . . . . . . . . . . . . . . . . . . . . . . . 115

B.8.2.2.3 Crditos concedidos por outros intermedirios financeiros(excepto fundos de investimento) e auxiliares financeiros . . 116

B.8.2.2.3 Loans and advances granted by other financialintermediaries (excluding mutual funds) and financialauxiliaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116

B.8.2.2.4 Activos diversos de outros intermedirios financeiros(excepto fundos de investimento) e auxiliares financeiros . . 116

B.8.2.2.4 Other assets of other financial intermediaries (excludingmutual funds) and financial auxiliaries . . . . . . . . . . . . . . . . . . 116

B.8.2.2.5 Passivos de outros intermedirios financeiros (exceptofundos de investimento) e auxiliares financeiros sob aforma de emprstimos e outros recursos similares . . . . . . . 117

B.8.2.2.5 Loans and other similar resources of other financialintermediaries (excluding mutual funds) and financialauxiliaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117

B.8.2.2.6 Capital e reservas de outros intermedirios financeiros(excepto fundos de investimento) e auxiliares financeiros . . 117

B.8.2.2.6 Capital and reserves of other financial intermediaries(excluding mutual funds) and financial auxiliaries . . . . . . . . . 117

B.8.2.2.7 Passivos diversos de outros intermedirios financeiros(excepto fundos de investimento) e auxiliares financeiros . . 118

B.8.2.2.7 Other liabilities of other financial intermediaries (excludingmutual funds) and financial auxiliaries . . . . . . . . . . . . . . . . . . 118

B.8.2.3.1 Desenvolvimento de resultados de outros intermediriosfinanceiros (excepto fundos de investimento) e auxiliaresfinanceiros Custos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118

B.8.2.3.1 Profit and loss account of other financial intermediaries(excluding mutual funds) and financial auxiliaries Costsand losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118

B.8.2.3.2 Desenvolvimento de resultados de outros intermediriosfinanceiros (excepto fundos de investimento) e auxiliaresfinanceiros Proveitos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119

B.8.2.3.2 Profit and loss account of other financial intermediaries(excluding mutual funds) and financial auxiliaries Incomeand gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119

B.8.2.3.3 Desenvolvimento de resultados de outros intermediriosfinanceiros (excepto fundos de investimento) e auxiliaresfinanceiros Resultado de explorao . . . . . . . . . . . . . . . . . 120

B.8.2.3.3 Profit and loss account of other financial intermediaries(excluding mutual funds) and financial auxiliaries Operating profit / loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120

B.8.3.1 Sociedades gestoras de participaes sociais do sectorfinanceiro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121

B.8.3.1 Financial holding companies . . . . . . . . . . . . . . . . . . . . . . . . . 121

B.8.3.2 Sociedades e fundos de titularizao de crditos. . . . . . . . . 121 B.8.3.2 Securitization societies and funds . . . . . . . . . . . . . . . . . . . . . 121

B.8.3.3 Outros intermedirios financeiros especializados naconcesso de crdito. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122

B.8.3.3 Other financial intermediaries engaged in lending. . . . . . . . . 122

B.8.3.4 Intermedirios financeiros - outros . . . . . . . . . . . . . . . . . . . . 122 B.8.3.4 Financial intermediaries - other . . . . . . . . . . . . . . . . . . . . . . . 122

B.9 INFORMAO ESTATSTICA DA CENTRAL DERESPONSABILIDADES DE CRDITO

B.9 CENTRAL CREDIT REGISTER STATISTICAL

INFORMATION

B.9.1.1 Repartio territorial dos emprstimos concedidos asociedades no financeiras . . . . . . . . . . . . . . . . . . . . . . . . . 123

B.9.1.1 Breakdown of loans granted to non-financial corporationsby region . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

B.9.1.2 Repartio territorial dos rcios de crdito vencido dassociedades no financeiras . . . . . . . . . . . . . . . . . . . . . . . . . 123

B.9.1.2 Breakdown of non-performing loans ratio of non-financialcorporations by region . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123

B.9.1.3 Repartio por ramo de actividade econmica dosemprstimos concedidos a sociedades no financeiras . . . 124

B.9.1.3 Breakdown of loans granted to non-financial corporations bybranch of activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124

B.9.1.4 Repartio por ramo de actividade econmica dos rciosde crdito vencido das sociedades no financeiras . . . . . . 125

B.9.1.4 Breakdown of non-performing loans ratio of non-financialcorporations by branch of activity. . . . . . . . . . . . . . . . . . . . . . 125

B.9.1.5 Repartio por ramo de actividade econmica dosemprstimos concedidos a sociedades no financeiras daindstria transformadora . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126

B.9.1.5 Breakdown of loans granted to non-financial corporations ofthe manufactoring industry by branch of activity . . . . . . . . . . 126

B.9.1.6 Repartio por ramo de actividade econmica dos rciosde crdito vencido das sociedades no financeiras daindstria transformadora . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127

B.9.1.6 Breakdown of non-performing loans ratio of non-financialcorporations of the manufactoring industry by branch ofactivity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127

B.9.1.7 Percentagem de sociedades no financeiras por escalesde crdito concedido . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128

B.9.1.7 Breakdown of the percentage of non-financial corporationsby bracket of credit amount . . . . . . . . . . . . . . . . . . . . . . . . . . 128

B.9.1.8 Endividamento mdio das sociedades no financeiras porescales de crdito concedido . . . . . . . . . . . . . . . . . . . . . . . 128

B.9.1.8 Breakdown of average indebtedness of non-financialcorporations by bracket of credit amount . . . . . . . . . . . . . . . 128

B.9.1.9 Percentagem de sociedades no financeiras com crditovencido por escales de crdito concedido . . . . . . . . . . . . . 129

B.9.1.9 Breakdown of the percentage of non-financial corporationswith non-performing loans by bracket of credit amount . . . . . 129

B.9.1.10 Rcio de crdito vencido das sociedades no financeiraspor escales de crdito concedido . . . . . . . . . . . . . . . . . . . . 129

B.9.1.10 Breakdown of non-performing loans ratio of non-financialcorporations by bracket of credit amount . . . . . . . . . . . . . . . . 129

B.9.2.1 Emprstimos concedidos a particulares . . . . . . . . . . . . . . . . 130 B.9.2.1 Loans granted to private individuals . . . . . . . . . . . . . . . . . . . 130

B.9.2.2 Rcio de crdito vencido dos particulares . . . . . . . . . . . . . . 130 B.9.2.2 Non-performing loans ratio of private individuals . . . . . . . . . . 130

B.9.2.3 Emprstimos concedidos a particulares - Nmero dedevedores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131

B.9.2.3 Loans granted to private individuals -Number of borrowers . 131

B.9.2.4 Percentagem de devedores do sector dos particulares comcrdito vencido. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131

B.9.2.4 Percentage of borrowers in the households sector withnon-performing loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131

B.9.2.5 Repartio territorial dos emprstimos concedidos afamlias - Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132

B.9.2.5 Breakdown of loans granted to households by region - Total 132

B.9.2.6 Repartio territorial dos rcios de crdito vencido dasfamlias - Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132

B.9.2.6 Breakdown of non-performing loans ratio of households byregion - Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132

B.9.2.7 Repartio territorial dos emprstimos concedidos afamlias - Habitao . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133

B.9.2.7 Breakdown of loans granted to households by region -Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133

B.9.2.8 Repartio territorial dos rcios de crdito vencido dasfamlias - Habitao . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133

B.9.2.8 Breakdown of non-performing loans ratio of households byregion - Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133

B.9.2.9 Repartio territorial dos emprstimos concedidos afamlias - consumo e outros fins . . . . . . . . . . . . . . . . . . . . . . 134

B.9.2.9 Breakdown of loans granted to households by region -Consumption and other purposes . . . . . . . . . . . . . . . . . . . . . 134

Junho 2011 9

B.9.2.10 Repartio territorial dos rcios de crdito vencido dasfamlias - consumo e outros fins . . . . . . . . . . . . . . . . . . . . . . 134

B.9.2.10 Breakdown of non-performing loans ratio of households byregion - Consumption and other purposes. . . . . . . . . . . . . . . 134

B.9.2.11 Repartio territorial dos emprstimos concedidos afamlias - Total - Nmero de devedores . . . . . . . . . . . . . . . . 135

B.9.2.11 Breakdown of loans granted to households by region - Total 135

B.9.2.12 Repartio territorial dos emprstimos concedidos afamlias - Habitao - Nmero de devedores . . . . . . . . . . . . 135

B.9.2.12 Breakdown of loans granted to households by region -Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135

B.9.2.13 Repartio territorial dos emprstimos concedidos afamlias - consumo e outros fins - Nmero de devedores . . 136

B.9.2.13 Breakdown of loans granted to households by region -Consumption and other purposes . . . . . . . . . . . . . . . . . . . . . 136

B.9.2.14 Percentagem de devedores do sector das famlias porescales de crdito concedido . . . . . . . . . . . . . . . . . . . . . . . 136

B.9.2.14 Breakdown of percentage of borrowers in the householdssector by bracket of credit amount . . . . . . . . . . . . . . . . . . . . . 136

B.9.2.15 Percentagem de devedores do sector das famlias comcrdito vencido por escales de crdito concedido . . . . . . . 137

B.9.2.15 Breakdown of the percentage of borrowers in thehouseholds sector with non-performing loans by bracket ofcredit amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137

B.9.2.16 Rcio de crdito vencido dos devedores do sector dasfamlias por escales de crdito concedido . . . . . . . . . . . . . 137

B.9.2.16 Breakdown of non-performing loans ratio of borrowers in thehouseholds sector by bracket of credit amount . . . . . . . . . . . . 137

B.10 MERCADOS DE TTULOS B.10 SECURITIES MARKETS

B.10.1.1 Ttulos emitidos - Total de aces e ttulos de dvida - Porprazo, moeda, mercado de emisso e sector institucionaldo emitente - Emisses lquidas . . . . . . . . . . . . . . . . . . . . . . 139

B.10.1.1 Securities issued - Total shares and debt securities - Bymaturity, currency, issuance market and issuing sector - Netissues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139

B.10.1.2 Ttulos emitidos por instituies financeiras monetrias -Total de aces e ttulos de dvida - Por prazo, moeda emercado de emisso - Emisses lquidas . . . . . . . . . . . . . . 139

B.10.1.2 Securities issued by monetary financial institutions - Totalshares and debt securities - By maturity, currency andissuance market - Net issues . . . . . . . . . . . . . . . . . . . . . . . . 139

B.10.1.3 Ttulos emitidos por instituies financeiras no monetrias- Total de aces e ttulos de dvida - Por prazo, moeda,mercado de emisso e subsector institucional - Emisseslquidas. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140

B.10.1.3 Securities issued by non-monetary financial institutions -Total shares and debt securities - By maturity, currency,issuance market and issuing sub-sector - Net issues. . . . . . 140

B.10.1.4 Ttulos emitidos por Administraes Pblicas - Total dettulos de dvida - Por prazo, moeda, mercado de emisso esubsector institucional - Emisses lquidas. . . . . . . . . . . . . . 140

B.10.1.4 Securities issued by General Government - Total debtsecurities - By maturity, currency, issuance market andissuing sub-sector - Net issues . . . . . . . . . . . . . . . . . . . . . . . 140

B.10.1.5 Ttulos emitidos pelo sector no financeiro (exceptoAdministraes Pblicas) - Total de aces e ttulos dedvida - Por prazo, moeda e mercado de emisso -Emisses lquidas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141

B.10.1.5 Securities issued by non-financial corporations (other thanthe General Government) - Total shares and debt securities- By maturity, currency and issuance market - Net issues . . 141

B.10.1.6 Ttulos emitidos por ramo de actividade econmica - Totalde aces e ttulos de dvida - Emisses lquidas . . . . . . . . 141

B.10.1.6 Securities issued by branch of activity - Total shares anddebt securities - Net issues . . . . . . . . . . . . . . . . . . . . . . . . . . 141

B.10.2.1 Ttulos emitidos - Total de aces e ttulos de dvida - Porprazo, moeda, mercado de emisso e sector institucionalde emitente - Saldos em fim de ms . . . . . . . . . . . . . . . . . . 142

B.10.2.1 Securities issued - Total shares and debt securities - Bymaturity, currency and issuance market and issuing sector -End-of-month figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142

B.10.2.2 Ttulos emitidos por instituies financeiras monetrias -Total de aces e ttulos de dvida - Por prazo, moeda emercado de emisso - Saldos em fim de ms . . . . . . . . . . . 142

B.10.2.2 Securities issued by monetary financial institutions - Totalshares and debt securities - By maturity, currency andissuance market - End-of-month figures . . . . . . . . . . . . . . . . 142

B.10.2.3 Ttulos emitidos por instituies financeiras no monetrias- Total de aces e ttulos de dvida - Por prazo, moeda emercado de emisso e subsector institucional - Saldos emfim de ms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143

B.10.2.3 Securities issued by non-monetary financial institutions -Total shares and debt securities - By maturity, currency andissuance market and issuing sub-sector - End-of-monthfigures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143

B.10.2.4 Ttulos emitidos por Administraes Pblicas - Total dettulos de dvida - Por prazo, moeda, mercado de emisso esubsector institucional - Saldos em fim de ms . . . . . . . . . . 143

B.10.2.4 Securities issued by the General Government - Total debtsecurities - By maturity, currency, issuance market andissuing sub-sector - End-of-month figures . . . . . . . . . . . . . . . 143

B.10.2.5 Ttulos emitidos pelo sector no financeiro (exceptoAdministraes Pblicas) - Total de aces e ttulos dedvida - Por prazo, moeda e mercado de emisso - Saldosem fim de ms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144

B.10.2.5 Securities issued by non-financial corporations (other thanthe General Government) - Total shares and debt securities- By maturity, currency and issuance market - End-of-monthfigures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144

B.10.2.6

B.10.3.1

Ttulos emitidos por ramo de actividade econmica - Totalde aces e ttulos de dvida - Saldos em fim de perodo . .Indexantes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

144145

B.10.2.6

B.10.3.1

Securities issued by branch of activity - Total shares and debtsecurities - Outstanding amounts . . . . . . . . . . . . . . . . . . . . . . .Reference rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

144145

B.10.3.2 Taxas de juro de curto prazo (3 meses) e taxas derendibilidade de longo prazo (10 anos) . . . . . . . . . . . . . . . . . 146

B.10.3.2 Short-term interest rate (3 months) and long-term yields(10 years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146

B.10.3.3 Taxas de rendibilidade de obrigaes do Tesouro . . . . . . . . 146 B.10.3.3 Yield on Treasury bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146

B.10.3.4 ndices de cotaes de aces . . . . . . . . . . . . . . . . . . . . . . . 147 B.10.3.4 Share price indices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147

C. ESTATSTICAS DA BALANA DE PAGAMENTOS E DAPOSIO DE INVESTIMENTO INTERNACIONAL

C. BALANCE OF PAYMENTS STATISTICS ANDINTERNATIONAL INVESTMENT POSITION STATISTICS

C.0 ESTATSTICAS DA BALANA DE PAGAMENTOS C.0 BALANCE OF PAYMENTS STATISTICS

C.0.1 Balana de pagamentos . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151 C.0.1 Balance of payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151

C.1 BALANAS CORRENTE E DE CAPITAL C.1 CURRENT AND CAPITAL ACCOUNTS

C.1.0.1 Balanas corrente e de capital - Valores lquidos . . . . . . . . . 153 C.1.0.1 Current and capital accounts - Net figures. . . . . . . . . . . . . . . 153


C.1.0.2 Balanas corrente e de capital - Sries ajustadas desazonalidade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154

C.1.0.2 Current and capital accounts - Seasonally adjusted series . . 154

C.1.1.1 Balanas corrente e de capital - Principais componentes . . 155 C.1.1.1 Current and capital accounts - Main items. . . . . . . . . . . . . . . 155

C.1.1.2 Balanas corrente e de capital - Com pases da rea doeuro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155

C.1.1.2 Current and capital accounts - Vis--vis euro area countries 155

C.1.1.3 Balanas corrente e de capital - Com pases da UE . . . . . . 156 C.1.1.3 Current and capital accounts - Vis--vis EU countries . . . . . 156

C.1.2.1 Servios - Transportes (Por modo de transporte) . . . . . . . . . 156 C.1.2.1 Services - Transportation (By mode) . . . . . . . . . . . . . . . . . . . 156

C.1.2.2 Servios - Transportes (Por tipo de transporte) . . . . . . . . . . 157 C.1.2.2 Services - Transportation (By type) . . . . . . . . . . . . . . . . . . . . 157

C.1.2.3 Servios - Viagens e turismo, comunicao e construo . . 157 C.1.2.3 Services - Travel, communications and construction. . . . . . . 157

C.1.2.4 Servios - Seguros, financeiros e de informao einformtica . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158

C.1.2.4 Services - Insurance, financial and computer andinformation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158

C.1.2.5 Servios - Outros servios fornecidos por empresas . . . . . . 158 C.1.2.5 Services - Other business services . . . . . . . . . . . . . . . . . . . . 158

C.1.2.6 Servios - Direitos de utilizao, servios de naturezapessoal, cultural e recreativa e operaes governamentais . 159

C.1.2.6 Services - Royalties and license fees, personal, cultural andrecreational services and government services . . . . . . . . . . . 159

C.1.3.1 Rendimentos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160 C.1.3.1 Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160

C.1.3.2 Rendimentos de investimento directo . . . . . . . . . . . . . . . . . . 160 C.1.3.2 Direct investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160

C.1.3.3 Rendimentos de investimento de carteira . . . . . . . . . . . . . . . 161 C.1.3.3 Portfolio investment income . . . . . . . . . . . . . . . . . . . . . . . . . . 161

C.1.4.1 Transferncias correntes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 C.1.4.1 Current transfers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161

C.1.4.2 Transferncias correntes - Remessas de emigrantes . . . . . 162 C.1.4.2 Emigrants remittances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162

C.1.5 Balana de capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162 C.1.5 Capital account. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162

C.1.6 Transferncias com a Unio Europeia . . . . . . . . . . . . . . . . . 163 C.1.6 Transfers with the European Union . . . . . . . . . . . . . . . . . . . . 163

C.1.7 Balana de pagamentos tecnolgica . . . . . . . . . . . . . . . . . . 163 C.1.7 Technological balance of payments . . . . . . . . . . . . . . . . . . . . 163

C.2 BALANA FINANCEIRA C.2 FINANCIAL ACCOUNT

C.2.0 Balana financeira - Valores lquidos . . . . . . . . . . . . . . . . . . 165 C.2.0 Financial account - Net figures. . . . . . . . . . . . . . . . . . . . . . . . 165

C.2.1 Balana financeira - Principais componentes . . . . . . . . . . . . 166 C.2.1 Financial account - Main items. . . . . . . . . . . . . . . . . . . . . . . . 166

C.2.2.1 Investimento directo de Portugal no exterior - Por tipo deoperao . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166

C.2.2.1 Portuguese direct investment abroad - By type of operation. 166

C.2.2.2 Investimento directo de Portugal no exterior - Por sector deactividade da empresa residente . . . . . . . . . . . . . . . . . . . . . 167

C.2.2.2 Portuguese direct investment abroad - By economic activityof the resident company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167

C.2.2.3 Investimento directo de Portugal no exterior - Por zonaeconmica de destino . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167

C.2.2.3 Portuguese direct investment abroad - By economic regionof destination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167

C.2.3.1 Investimento directo do exterior em Portugal - Por tipo deoperao . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168

C.2.3.1 Foreign direct investment in Portugal - By type of operation . 168

C.2.3.2 Investimento directo do exterior em Portugal - Por sector deactividade da empresa residente . . . . . . . . . . . . . . . . . . . . . 168

C.2.3.2 Foreign direct investment in Portugal - By economic activityof the resident company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168

C.2.3.3 Investimento directo do exterior em Portugal - Por zonaeconmica de origem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169

C.2.3.3 Foreign direct investment in Portugal - By economic regionof origin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169

C.2.4.1 Investimento de carteira - Por tipo de instrumento . . . . . . . . 169 C.2.4.1 Portfolio investment - By type of instrument . . . . . . . . . . . . . 169

C.2.4.2 Investimento de carteira - Autoridades monetrias, por tipode instrumento . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170

C.2.4.2 Portfolio investment - Monetary authorities, by type ofinstrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170

C.2.4.3 Investimento de carteira - Administraes Pblicas, por tipode instrumento . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170

C.2.4.3 Portfolio investment - General Government, by type ofinstrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170

C.2.4.4 Investimento de carteira - Outras instituies financeirasmonetrias, por tipo de instrumento . . . . . . . . . . . . . . . . . . . 171

C.2.4.4 Portfolio investment - Other monetary financial institutions,by type of instrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171

C.2.4.5 Investimento de carteira - Outros sectores residentes, portipo de instrumento . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171

C.2.4.5 Portfolio investment - Other resident sectors, by type ofinstrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171

C.2.4.6 Investimento de carteira - Por sector institucional daentidade residente - Outros sectores residentes . . . . . . . . . 172

C.2.4.6 Portfolio investment - By institutional sector of the residententity - Other resident sectors . . . . . . . . . . . . . . . . . . . . . . . . 172

C.2.4.7 Investimento de carteira - Por zona econmica . . . . . . . . . . 172 C.2.4.7 Portfolio investment - By economic region. . . . . . . . . . . . . . . 172

C.2.4.8 Investimento de carteira - Com pases da rea do euro . . . . 173 C.2.4.8 Portfolio investment - With euro area countries . . . . . . . . . . . 173

C.2.4.9 Investimento de carteira - Com pases fora da rea do euro 173 C.2.4.9 Portfolio investment - With non-euro area countries . . . . . . . 173

C.2.5 Derivados financeiros . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174 C.2.5 Financial derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174

C.2.6.1 Outro investimento - Por sector institucional do investidorresidente . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174

C.2.6.1 Other investment - By institutional sector of the residentinvestor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174

C.2.6.2 Outro investimento - Autoridades Monetrias eAdministraes Pblicas, por prazo . . . . . . . . . . . . . . . . . . . 175

C.2.6.2 Other investment - Monetary Authorities and GeneralGovernment, by maturity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175

C.2.6.3 Outro investimento - Outras instituies financeirasmonetrias e Outros sectores residentes, por prazo . . . . . . 175

C.2.6.3 Other investment - Other monetary financial institutions andOther resident sectors, by maturity . . . . . . . . . . . . . . . . . . . . 175

C.2.7 Activos de reserva . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 C.2.7 Reserve assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176

C.3 POSIO DE INVESTIMENTO INTERNACIONAL C.3 INTERNATIONAL INVESTMENT POSITION

C.3.0 Posio de investimento internacional . . . . . . . . . . . . . . . . . 177 C.3.0 International investment position. . . . . . . . . . . . . . . . . . . . . . . . 177

C.3.1 Posio de investimento internacional - Principaiscomponentes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178

C.3.1 International investment position - Main items . . . . . . . . . . . . . 178

C.3.2 Investimento directo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178 C.3.2 Direct investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178

C.3.3.1 Investimento de carteira - Activos - Por tipo de instrumentoe por sector institucional do investidor residente . . . . . . . . . 179

C.3.3.1 Portfolio investment - Assets - By type of instrument andinstitutional sector of the resident investor . . . . . . . . . . . . . . . 179

C.3.3.2 Investimento de carteira - Passivos - Por tipo deinstrumento e por sector institucional do emitente residente 179

C.3.3.2 Portfolio investment - Liabilities - By type of instrument andinstitutional sector of the resident issuer . . . . . . . . . . . . . . . . 179

C.3.3.3 Investimento de carteira - Passivos - Por zona econmica epas de origem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180

C.3.3.3 Portfolio investment - Liabilities - By economic area andcountry of origin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180

C.3.4 Derivados financeiros - Por sector institucional do investidorresidente . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180

C.3.4 Financial derivatives - By institutional sector of the residentinvestor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180

Junho 2011 11

C.3.5.1 Outro investimento - Por sector institucional do investidorresidente . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181

C.3.5.1 Other investment - By institutional sector of the residentinvestor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181

C.3.5.2 Outro investimento - Autoridades Monetrias eAdministraes Pblicas, por prazo . . . . . . . . . . . . . . . . . . . 181

C.3.5.2 Other investment - Monetary Authorities and GeneralGovernment, by maturity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181

C.3.5.3 Outro investimento - Outras instituies financeirasmonetrias e Outros sectores residentes, por prazo . . . . . . 182

C.3.5.3 Other investment - Other monetary financial institutions andOther resident sectors, by maturity . . . . . . . . . . . . . . . . . . . . 182

C.3.6C.3.7

Activos de reserva . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Posio de investimento internacional - Decomposio davariao de posies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

182

183

C.3.6C.3.7

Reserve assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .International investment position - Breakdown by change onposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

182

183

D. ESTATSTICAS CAMBIAIS D. EXCHANGE RATE STATISTICS

D.1 TAXAS DE CMBIO D.1 EXCHANGE RATES

D.1 Taxas de converso irrevogveis para o euro . . . . . . . . . . . 187 D.1 Irrevocable conversion rates for the euro . . . . . . . . . . . . . . 187

D.1.1 Taxas de cmbio de referncia do euro - Vis--vis moedasdo MTC II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188

D.1.1 Euro reference exchange rates - vis--vis ERM IIcurrencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188

D.1.1.1 Taxas de cmbio de referncia do euro - Valores mdios . . 188 D.1.1.1 Euro reference exchange rates - Averages . . . . . . . . . . . . . 188

D.1.1.2 Taxas de cmbio de referncia do euro - Fim de perodo . . 190 D.1.1.2 Euro reference exchange rates - End-of-period . . . . . . . . . . 190

D.1.2.1 Direito de Saque Especial - Ouro - Valores mdios . . . . . . . 191 D.1.2.1 Special Drawing Rights - Gold - Averages. . . . . . . . . . . . . . . 191

D.1.2.2 Taxas de cmbio efectivas do euro . . . . . . . . . . . . . . . . . . . . 192 D.1.2.2 Euro effective exchange rates . . . . . . . . . . . . . . . . . . . . . . . . 192

D.1.2.3 ndices cambiais efectivos para Portugal . . . . . . . . . . . . . . . 192 D.1.2.3 Effective exchange rate indices for Portugal . . . . . . . . . . . . . 192

D.1.2.4 Direito de Saque Especial - Ouro - Fim de perodo . . . . . . . 193 D.1.2.4 Special Drawing Rights - Gold - End-of-period . . . . . . . . . . . 193

D.1.3 Taxas de cmbio do euro em relao a outras moedas -Valores de referncia - Fim de perodo . . . . . . . . . . . . . . . . . 193

D.1.3 Euro exchange rates against other currencies - Referencefigures - End-of-period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193

D.2 ACTIVIDADE NOS MERCADOS DE CMBIOS E DEPRODUTOS DERIVADOS

D.2 FOREIGN EXCHANGE AND DERIVATIVES MARKET ACTIVITY

D.2.1 Transaces no mercado de cmbios - Global. . . . . . . . . . . 199 D.2.1 Foreign exchange market turnover - Global . . . . . . . . . . . . . 199

D.2.2 Transaces no mercado de cmbios - Euro contra outrasmoedas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199

D.2.2 Foreign exchange market turnover - Euro against othercurrencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199

D.2.3 Transaces no mercado de cmbios - Euro contra o dlardos EUA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

D.2.3 Foreign exchange market turnover - Euro against US Dollar 200

D.2.4 Transaces no mercado de cmbios - Euro contra a libraesterlina . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

D.2.4 Foreign exchange market turnover - Euro against poundsterling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

D.2.5 Transaces de derivados sobre taxas de juro de uma smoeda - Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201

D.2.5 Single currency interest rates derivatives turnover - Global . 201

D.2.6 Transaces de derivados sobre taxas de juro de uma smoeda - Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 201

D.2.6 Single currency interest rates derivatives turnover - Euro . . 201

E. ESTATSTICAS DAS FINANAS PBLICAS

E.1 FINANCIAMENTO DAS ADMINISTRAES PBLICAS

E. PUBLIC FINANCE STATISTICS

E.1 GENERAL GOVERNMENT FINANCING

E.1.1 Financiamento das Administraes Pblicas. . . . . . . . . . . . 205 E.1.1 General Government financing . . . . . . . . . . . . . . . . . . . . . . . 205

E.1.2 Financiamento da Administrao Central . . . . . . . . . . . . . . . 206 E.1.2 Central Government financing . . . . . . . . . . . . . . . . . . . . . . . . 206

E.1.2.1 Financiamento do Estado . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 E.1.2.1 State financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206

E.1.2.2 Financiamento dos servios e fundos autnomos . . . . . . . . 207 E.2.2.2 Autonomous services and funds financing . . . . . . . . . . . . . . 207

E.1.3 Financiamento da Administrao Regional e Local . . . . . . . 208 E.1.3 Regional and Local Government financing . . . . . . . . . . . . . . 208

E.1.3.1 Financiamento da Administrao Regional. . . . . . . . . . . . . . 208 E.1.3.1 Regional Government financing. . . . . . . . . . . . . . . . . . . . . . . 208

E.1.3.2 Financiamento da Administrao Local . . . . . . . . . . . . . . . . 209 E.1.3.2 Local Government financing . . . . . . . . . . . . . . . . . . . . . . . . . 209

E.1.4 Financiamento dos fundos de Segurana Social . . . . . . . . . 209 E.1.4 Social securities funds financing . . . . . . . . . . . . . . . . . . . . . . 209

E.1.5 Dvida directa do Estado . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210 E.1.5 Direct state debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210

E.2 RECEITAS E DESPESAS DO ESTADO E DA SEGURANASOCIAL

E.2 STATE AND SOCIAL SECURITY REVENUE AND EXPENDITURE

E.2.1 Receitas e despesas do Estado . . . . . . . . . . . . . . . . . . . . . . 211 E.2.1 State revenue and expenditure . . . . . . . . . . . . . . . . . . . . . . . 211

E.2.2 Receitas e despesas da Segurana Social - Instituto deGesto Financeira da Segurana Social. . . . . . . . . . . . . . . . 212

E.2.2 Social security revenue and expenditure - Instituto deGesto Financeira da Segurana Social . . . . . . . . . . . . . . . . 212

E.3 CAPACIDADE / NECESSIDADE LQUIDA DEFINANCIAMENTO E DVIDA DAS ADMINISTRAESPBLICAS

E.3 NET LENDING / NET BORROWING AND DEBT OF GE

NE GENERAL GOVERNMENT

E.3.1 Capacidade (+) / Necessidade (-) de financiamento dasAdministraes Pblicas . . . . . . . . . . . . . . . . . . . . . . . . . . . 213

E.3.1 Net lending (+) / Net borrowing(-) of General Government . . . 213

E.3.2 Dvida bruta das Administraes Pblicas - Desagregaopor sub-sector emitente . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214

E.3.2 General Government Gross Debt - Breakdown by issuersub-sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214


E.3.3 Dvida bruta das Administraes Pblicas - Desagregaopor instrumento financeiro . . . . . . . . . . . . . . . . . . . . . . . . . . . 214

E.3.3 General Government Gross Debt - Breakdown by financialinstrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214

E.3.4 Ajustamento entre a capacidade / necessidade lquida definanciamento e a variao da dvida das AdministraesPblicas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215

E.3.4 Adjustment between net lending / net borrowing and changein debt of General Government . . . . . . . . . . . . . . . . . . . . . . . 215

E.3.5 Receitas das Administraes Pblicas (contas nacionais). . 216 E.3.5 General Government revenue (national accounts) . . . . . . . . 216

E.3.6 Despesas das Administraes Pblicas (contas nacionais). 217 E.3.6 General Government expenditures (national accounts) . . . . 217

F. CONTAS NACIONAIS FINANCEIRAS F. NATIONAL FINANCIAL ACCOUNTS

F.1 CONTAS NACIONAIS FINANCEIRAS - TRANSACES F.1 NATIONAL FINANCIAL ACCOUNTS - TRANSACTIONSSries anuais Annual series

F.1.1.1 Contas Nacionais Financeiras -Transaces - Por sectorinstitucional e instrumento financeiro - 2006. . . . . . . . . . . . . 221

F.1.1.1 National Financial Accounts -Transactions - By institutionalsector and financial instrument - 2006. . . . . . . . . . . . . . . . . . 221

F.1.1.2 Contas Nacionais Financeiras -Transaces - Por sectorinstitucional e instrumento financeiro - 2007 . . . . . . . . . . . . . 222







F.1.1.5 National Financial Accounts -Transactions - By institutionalsector and financial instrument - 2010 . . . . . . . . . . . . . . . . . . 225

F.1.2.1 Contas Nacionais Financeiras -Transaces - Total daeconomia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 226

F.1.2.1 National Financial Accounts - Transactions - Total economy. 226

F.1.2.2 Contas Nacionais Financeiras -Transaces - Sectorinstitucional - Sociedades no financeiras. . . . . . . . . . . . . . . 227

F.1.2.2 National Financial Accounts -Transactions - Institutionalsector - Non-financial Corporations . . . . . . . . . . . . . . . . . . . . 227

F.1.2.3 Contas Nacionais Financeiras -Transaces - Sectorinstitucional - Sociedades financeiras. . . . . . . . . . . . . . . . . . 228

F.1.2.3 National Financial Accounts -Transactions - Institutionalsector - Financial Corporations. . . . . . . . . . . . . . . . . . . . . . . . 228

F.1.2.4 Contas Nacionais Financeiras -Transaces - Sectorinstitucional - Administraes Pblicas. . . . . . . . . . . . . . . . . 229

F.1.2.4 National Financial Accounts -Transactions - Institutionalsector - General Government. . . . . . . . . . . . . . . . . . . . . . . . . 229

F.1.2.5 Contas Nacionais Financeiras -Transaces - Sectorinstitucional - Particulares.. . . . . . . . . . . . . . . . . . . . . . . . . . . 230

F.1.2.5 National Financial Accounts -Transactions - Institutionalsector - Households + NPISH . . . . . . . . . . . . . . . . . . . . . . . . 230

F.1.2.6 Contas Nacionais Financeiras -Transaces - Sectorinstitucional - Resto do Mundo. . . . . . . . . . . . . . . . . . . . . . . . 231

F.1.2.6 National Financial Accounts -Transactions - Institutionalsector - Rest of the World. . . . . . . . . . . . . . . . . . . . . . . . . . . . 231

F.1.3.1 Contas Nacionais Financeiras -Transaces - Instrumentofinanceiro - Numerrio e Depsitos. . . . . . . . . . . . . . . . . . . . 232

F.1.3.1 National Financial Accounts -Transactions - Financialinstruments - Currency and Deposits. . . . . . . . . . . . . . . . . . . 232

F.1.3.2 Contas Nacionais Financeiras -Transaces - Instrumentofinanceiro - Ttulos excepto aces. . . . . . . . . . . . . . . . . . . . 232

F.1.3.2 National Financial Accounts -Transactions - Financialinstruments - Securities other than shares. . . . . . . . . . . . . . 232

F.1.3.3 Contas Nacionais Financeiras -Transaces - Instrumentofinanceiro - Emprstimos. . . . . . . . . . . . . . . . . . . . . . . . . . . . 233

F.1.3.3 National Financial Accounts -Transactions - Financialinstruments - Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 233

F.1.3.4 Contas Nacionais Financeiras -Transaces - Instrumentofinanceiro - Aces e outras participaes . . . . . . . . . . . . . . 233

F.1.3.4 National Financial Accounts -Transactions - Financialinstruments - Shares and other equity . . . . . . . . . . . . . . . . . . 233

Sries trimestrais Quarterly series

F.1.4.1 Total da Economia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234 F.1.4.1 Total Economy . . . . . . . . . . . . . . . . . . . . . . . . .

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