Maria Silva

Head of Macroprudential Policy Division at Bank Of Portugal

Since summer 2017, Fátima Silva heads the Macroprudential Policy Division within the Financial Stability Department at Banco de Portugal. The division is responsible for assessing the appropriateness of the macroprudential policy measures and implementing macroprudential measures. Previously, she headed Macroprudential measures and instruments unit. She is a member of ECB’s Macroprudential Policy Group and the ESRB’s Instruments Working Group. Until recently, she co-chaired the ECB’s Expert group Monitoring banks’ response to the crisis and policy effectiveness and ESRB’s drafting team on the 2022 Review of the macroprudential framework, chair of ESRB’s 3rd Assessment Team meeting on RRE Recommendations and chair of ECB agile team on the higher inflation and interest rate risk and macroprudential policy stance. She has been involved in conducted ex-post studies about the impact of portuguese borrower-based measure (The impact of a macroprudential borrower based measure on households’ leverage and housing choices, WP Banco de Portugal) and the relation between solvency and funding (The solvency and funding cost nexus - the role of market stigma for buffer usability, WP Banco de Portugal). Previously, Fátima worked for 10 years in the Banco de Portugal’s Prudential Supervision Department as adviser and she was in charge of the risk assessment of the Portuguese banking system. Before she worked for seven years at the Banco de Portugal’s Economics and Research Department monitoring the developments in financial markets. Fátima holds a Master degree in in Monetary and Financial Economics from Lisbon School of Economics and Management. Her general areas of interest are financial stability, macroprudential policy and the interaction with other policies.