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Lusa - Business News - Portugal: Central Bank to send list of big debtor banks to parliament




Lisbon, May 20, 2019 (Lusa) - The Bank of Portugal has until Thursday to send a special report to parliament regarding big debtor banks that benefitted from public subsidies, Lusa has confirmed.
The law published in February gave the central bank "100 calendar days" to carry out a report "with all relevant information relating to credit institutions that in the twelve years prior to the publication of the present law, have verified situations of application or making public funding available."
The banks involved include Caixa Geral de Depósitos, BES/Novo Banco, Banif, BPN, BCP and BPI.
According to information obtained by Lusa, at least two documents will reach parliament - a public one, which the Bank of Portugal will release on its website - with aggregated information, and another confidential for the members of parliament, which includes details on problematic loans and other assets that gave the banking system problems and led to public aid.
The central bank has been asking the banks questions to carry out the report since there is a lot of information it did not have regarding BPN, for instance.
The law was voted in January and was carried out in parts, but the Socialist Party abstained while the Social Democrats, the Communist Party, the Left Bloc and the People’s Party CDS-PP voted in favour.
The new rules mean that in the future there will be more transparency regarding banks that seek public help.
The law was enacted in early February by the president Marcelo Rebelo de Sousa.
The deadline of 100 days to carry out the report was contested by the Bank of Portugal which said the time-frame was "not feasible."

IM/MWYP // AIYA
Lusa


Agency : LUSA

Date : 2019-05-21 10:01:31







 

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