Czech fury at ECB negative capital view


The Czech National Bank (CNB) objected to the European Central Bank's (ECB) view, expressed in its Convergence Report published on Wednesday, that negative capital "may adversely affect" a central bank's ability to perform its tasks.

In a strongly worded release, Zdeněk Tůma, the governor of the CNB, said it was unfair to include the view in the report. "Raising the issue of central bank capital as part of the ECB Convergence Report is an unjustified departure from the European Union's equal tre

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