Bank of Spain executives hit back at negligence claims

Madrid city council

The executive commission of the Bank of Spain has challenged the findings of an internal report, leaked to Spanish newspaper El País, which said supervisors would ‘look the other way' when signs of crime appeared.

A spokesman for the central bank said the report by the Bank of Spain's Association of Credit Institution Inspectors was informal and would not be released, but confirmed it included the damning phrase: "The usual reaction to evidence of crime is to look the other way".

However, in a

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