Bank of Portugal director responsible for banking supervision resigns

bancodeportugal
The Bank of Portugal

The Bank of Portugal board member responsible for banking supervision has resigned, the bank announced on March 7.

Antonio Varela was appointed to the board in September 2014 with responsibility for the banking prudential supervision department. A central bank spokesperson refused to comment on why Varela had resigned.

Local media have linked Varela's resignation to his role as a non-executive director, representing the Portuguese state, on the board of the troubled bank Banif, which was put

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