The Assistant Secretary of the Treasury and Finance, Ricardo Mourinho Félix, said this afternoon before the members of the Parliamentary Commission of Inquiry (CPI) on the Banif that when the Government took office found the bank with a sharp deterioration in their situation financial, which led the Bank of Portugal (boP to suggest public recapitalization of the institution.
One way that, by letter, the former Finance Minister Maria Luis Albuquerque, rejected for not being available to burdening taxpayers. the former minister suggested that there is a problem in Banif, would have to be the boP within the framework of resolution rules to find a solution.
When the issue went to this Government, Banif still in a situation of non-compliance to the Portuguese State and without a position to settle your debt (125 million contingent capital, or CoCo). to overcome the impasse, and before the pressure from Brussels to close the dossier until 18 December, Finance argued before the Directorate-General for Competition (DGComp) the transformation of 125 million public loan CoCo’s capital, passing the state to control more than 90% of Banif (over about 30% of the position held).
the proposal, which would be accompanied by the bank’s integration in the Caixa Geral de Depósitos (CGD), was presented to DGComp on 7 December that refused, claiming that CGD was already eligible for aid State (a loan of 900 million CoCos). And if the government insisted on this possibility, then the DGComp imposed the resolution of CGD.
Moments before being heard in the CPI, Ricardo Mourinho Félix delivered a speech written to Antonio Filipe.
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