06/02/2024 Stability, i.e. proper functioning of the financial system, is a necessary condition for effective economic performance and growth. The system must ensure that transactions and payments are made, that financial intermediation activities flow smoothly and that risks and threats that could lead to instability are managed. Several vulnerabilities that are intrinsic to the nature of the activities mentioned, such as, among others, transaction deadline mismatch and interconnection between participants, must be taken into account in order to mitigate the effects of contagion risk and any adverse repercussions on public and market confidence, with a view to maintaining stability, i.e. proper management of financial crises and minimizing the resulting economic and social costs. Partilhar