According to journal negócios, the Portuguese Popular bank will be transformed as a branch office of the Popular Bank of Spain, as a result of an organisational reestructuring of the Bank.
Hence, the guarantees of the deposits are going to be transferred to Spain as well as the responsability to assure the reimbursements of the bank deposits by the Portuguese deposit Fund, in case banks fail to assure the deposits.
Source: Journal “Negócios”