Starting August 1, the Bank of Portugal (Banco de Portugal or BdP) will implement new macroprudential rules for mortgage and consumer credit. The central bank is lowering the maximum debt-to-income ratio from 50% to 45% to mitigate financial risks for households. Additionally, the new regulations simplify loan duration requirements based on borrower age and prohibit credit intermediaries from accepting funds directly from consumers.
Central bank tightens mortgage and consumer credit rules
Thursday, 2 July 2026AI summary
Context & Explainers
- Governor of Banco de Portugal (2020–present)
- Former: Minister of Finance (2015–2020), President of the Eurogroup (2018–2020)
- Party: Independent (PS-affiliated)
- Background: Economist (PhD, Harvard)
Mário José Gomes de Freitas Centeno (born 1966) is Portugal's central bank governor and one of the country's most internationally recognized economic figures. As Finance Minister under António Costa's first PS government, he became known as "Cristiano Ronaldo of European finance" for turning Portugal's deficit into a surplus while reversing austerity.
He was elected president of the Eurogroup (the informal body of euro area finance ministers) in 2018 — the first Portuguese to hold the role. Since becoming Governor of Banco de Portugal in 2020, he sits on the ECB's Governing Council and oversees Portuguese banking supervision and financial stability.
8 sources
- BdP restricts credit but gives young people more years to payobservador.pt ·
- Banco de Portugal tightens credit rules starting in Augusteco.sapo.pt ·
- Bank of Portugal places a small 'brake' on access to housing credit starting August 1stpublico.pt ·
- Banco de Portugal tightens mortgage credit rules on August 1stexpresso.pt ·
- Bank of Portugal tightens lending rules as families’ debt risks riseportugalresident.com ·
- Banco de Portugal tightens rules for those requesting housing or consumer creditrtp.pt ·
- Banco de Portugal warns consumers about handing over funds to credit intermediariescmjornal.pt ·
- Banco de Portugal issues warning: credit intermediaries cannot receive funds from consumersSIC Notícias ·
