The (still) Secretary of State for Finance, Ricardo Mourinho Félix, guaranteed that no additional injection is foreseen in the Novo Banco in the Supplementary Budget, whose bill was approved this Tuesday in the Council of Ministers and was submitted to the Assembly of the Republic .
“In the Supplementary Budget for 2020, no funds are foreseen for additional injection into the Novo Banco during the year 2020”, said Mourinho Félix, at the press conference presenting the Supplementary Budget, alongside Mário Centeno, João Leão, António Mendonça Mendes and Álvaro Novo.
Mourinho Félix, who is leaving Finance, explained that “until 2019 the bank had a set of ratios which determined injections by the Resolution Fund. From 2020, these ratios are reduced, creating a gap. If there is a deterioration in the economy, it is natural that there will be a deterioration in the Novo Banco ratios ”.
(In update)
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The (still) Secretary of State for Finance, Ricardo Mourinho Félix, guaranteed that no additional injection is foreseen in the Novo Banco in the Supplementary Budget, whose bill was approved this Tuesday in the Council of Ministers and was submitted to the Assembly of the Republic .
“In the Supplementary Budget for 2020, no funds are foreseen for additional injection into the Novo Banco during the year 2020”, said Mourinho Félix, at the press conference presenting the Supplementary Budget, alongside Mário Centeno, João Leão, António Mendonça Mendes and Álvaro Novo.
Mourinho Félix, who is leaving Finance, explained that “until 2019 the bank had a set of ratios which determined injections by the Resolution Fund. From 2020, these ratios are reduced, creating a gap. If there is a deterioration in the economy, it is natural that there will be a deterioration in the Novo Banco ratios ”.
(In update)