Survey Banif has players who refused to answer the BES commission – Jornal de Negócios – Portugal

“I would like to point out the start of the European Central Bank’s position on the participation in the work of this committee: as a European institution, the ECB shall report only to the European Parliament, as the Treaty on European Union.” That’s how Vítor Constâncio, number two of the monetary authority began to respond by letter to the parliamentary committee of inquiry into the management of BES and GES. Were 17 members’ questions unanswered because of this “position”

In that case, lived in August 2014, the European Central Bank had played a central role in the BES fall:. Had threatened with the withdrawal of counterparty status to the bank, which would place him in a difficult to overcome liquidity situation. The bank turned out to be targeted for intervention through a resolution. More than a year later, in December 2015, the ECB again had a decisive role, as will also have threatened with the withdrawal of that status, precipitating the situation.

However, once Instead, the ECB, which is also the single European supervisor, can advance only accountable to the European Parliament, thus avoiding giving answers to Members of the inquiry committee to Banif, who takes office this Wednesday, February 3, at 14 30. Mario Draghi did not answer the inquiry committee to BES, as shown by the final report.

However, several Brussels responded names but not personally. Members had to submit in writing the letters to the European Commission, answered some returning and some not so. One that came was that of Alexander answered Italianer, who ran the Directorate-General for Competition of the European Commission. And Joaquín Almunia, former European Commissioner for Competition, but with which it was difficult to get in touch: it was one aspect that Members have complained. Jean-Claude Juncker, who succeeded Barroso as president of the European Commission, did not respond, according to the final report indications of the commission of inquiry to BES, which holds similar powers to the judicial authorities.

The sending or not sending documents

Another problem that has existed around commissions of inquiry is called secrecy and confidentiality. There are numerous stamped as confidential documents that require the lifting of secrecy. The final report of BES is said, for example, that several people protected themselves in “different kinds of alleged secrets (judicial secrecy, confidentiality, bank secrecy, tax secrecy, right to privacy or related rights)”, many of which the parliamentary inquiry comes to regard that is able to bypass.

Still, “there were cases of refusal to send some documents on the basis of the invocation of professional secrecy, banking secrecy and tax secrecy, which constitute modalities professional secrecy, or even judicial secrecy, “says the document. For example, the Caixa Geral de Depósitos invoked secrecy and has not sent the requested documents. The KPMG audit also did not send some correspondence with regulators.

And even being sent documentation, there is no authorization for it to be public knowledge. For example: “Documentation with the approval of the loan and the definition of state conditions contracted with the resolution fund.” This was one of Finance files applications to the Ministry that was sent but with confidential classification.

The commission of inquiry to Banif, target of state intervention to December 20, 2015, begins this Wed market. The work of the commission, including hearings, due shall begin after past the period under review the state budget and will focus on the later years of the financial institution founded by Horacio Roque and resolution and subsequent division into three entities, with the sale of traditional business to Santander Totta.

Members who will look at the issue have already been chosen: the PS will João Galamba and Filipe Brandão Neto as two of the seven deputies, after having been present in the BES. The PSD will feature Carlos Abreu Amorim as one of seven also repeat that joins a former minister Passos Coelho, Luís Marques Guedes. The CDS also opted for a former ruler of the previous Government, John Adams, and BE and the PCP chosen Mariana Mortágua and Michael James, respectively, returning to survey names the BES. The Communist António Filipe will chair the committee that has six key points to want to explore.