Portuguese government welcomes proposal for new supervisory agency
New agency could take financial oversight and bank rescues away from the central bank
A Portuguese government working group has recommended the creation of a new financial supervisory agency, which would take away important powers from the country’s central bank. It also recommended giving Portugal’s parliament the power to reject government nominees for senior central bank posts. Finance minister Mario Centeno welcomed the report, issued on September 18, locally based reporters said.
The proposed reforms would preserve the three institutions that currently carry out financial
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