Executive considers that the regulator “speaks more than he does,” she accuses Maria Luís having postponed problem until the elections and wants “compulsive replacement” bank that bring risk to the system.
the Assistant Secretary of State for Treasury and Finance back to attack the Bank of Portugal. Ricardo Mourinho Félix, who replied to Members in the committee of inquiry to resolve the Banif calls for greater coordination between regulatory and government, ensuring it does not want it put into question the “independence of supervisors” but appeal to ” that independence is used in the context for which it was set. “
Mourinho Felix believes that” supervision was made so that the government can give indications whether the monetary policy authority or the financial supervisor and not to the financial supervisor is a kind of Lisbon office of the European Central Bank, which is given unacceptable that is a Portuguese authority. “
what about the regulatory supervision responsibilities that have long guarantees that is an intrusive supervision (Carlos Costa said it again for weeks, this same committee), the minister said that it looks “important that supervision definitely takes an intrusive and proactive attitude. In 2011 he began to speak up too intrusive supervision but I think more was said than done because this intrusive surveillance so far had no visible practical effects. “
Maria Luis wanted to postpone solution Banif
Felix Mourinho believes that the previous government wanted to postpone the search for a solution to the Banif right from the end of 2014. at that time, “begins a series of dilatory processes ends in 2015 elections There is a set of cards that will postpone this process until it comes to the elections, “he said.” There are clearly intended to do nothing until the elections, assured the secretary of state.
Government opens the door to “compulsive replacement” banking managers
Portugal has lived too many settlements and resolutions in banking in recent years and “the Portuguese are certainly not willing to bear more situations such as Banif “. That’s why, says Assistant Secretary of State for Treasury and Finance, which is necessary to reflect on what happened and legislative changes so as to avoid new cases in the future.
In the Parliamentary Inquiry Commission (CPI ) Banif, Ricardo Mourinho Félix explained such change: Portugal needs “an intrusive and proactive supervision, which requires banks to have reliable information systems that readily recognize impairments, and to use the instruments it has available” he said, exemplifying with “withdrawal of suitability administration of board members when there is evidence of harmful acts and to use the compulsory replacement of the boards when they, through inaction or willful action, generate risks for the banking system”.
Mourinho Felix still insisted on the idea that the state should assume the role of “ensuring financial stability leading a banking project”: the Caixa Geral de Depósitos, which should have “a central role, stability, able to ensure, together with the private sector, stable financing to the economy, innovation projects, SMEs and companies with potential. ” Box also supports the minister, should “be a partner of the companies in foreign markets”
Brussels designed buyer profile where only fit Santander
European intransigence – a theme in almost all interviews with the CPI – was also addressed by Ricardo Moujrinho Felix. The Secretary of State said when it decided to move to the sales model in the context of resolution, the profile designed by the European Competition Directorate-General for the buyer was so demanding that only there could fit in theory two banks: Santander and Montepio Geral. Brussels would only accept a buyer who “was a commercial bank with a significant presence in Portugal, with a swing that was at least the Banif triple.” Joining these conditions that the banks which have public aid can not compete for the acquisition, he explained Mourinho Felix, “there was only the list of the 8 largest banks in Portugal, which are those who have relevant dimension for the operation, two banks could compete: one is the Montepio Geral, which dispense me to explain why they would not be able to participate in a process of these, and the other is the Santander “
These conditions would, in the negotiations between. Lisbon and Brussels, to be changed, which allowed the People’s Bank into the game. But the proposal came from the Spanish bank, assured the minister, was “very bad”.
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