Bank of Portugal was ‘overly cautious’ intervening in BES

Bank of Portugal

The Bank of Portugal was "overly cautious" and delivered a performance that "fell short of what would be desirable" in the process that eventually led to intervention in Banco Espírito Santo (BES), according to the preliminary report from the parliamentary committee investigating the case.

The 400-page report was presented today at the Portuguese parliament after five months of work and 55 hearings.

On August 2014, the Bank of Portugal announced a package of resolution measures for the commercia

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