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Europe Daily Bulletin No. 11431

17 November 2015
Contents Publication in full By article 30 / 38
ECONOMY - FINANCE - BUSINESS / (ae) banks
Novo Banco of Portugal has nine months to find €1.4 billion

Brussels, 16/11/2015 (Agence Europe) - In its capacity as single supervisor within the framework of banking union in the eurozone, the ECB on Sunday 15 November instructed the Portuguese bank Novo Banco, which rose in 2014 from the ashes of the bailout of Banco Espirito Santo (BES), to plug a capital gap of €1.4 billion.

Novo Banco, which incorporates the healthy assets of BES, has two weeks to present a recapitalisation plan and nine months to bring it to fruition. This is a considerable...

Contents

G20 SUMMIT
SECTORAL POLICIES
EXTERNAL ACTION
INSTITUTIONAL
ECONOMY - FINANCE - BUSINESS
NEWS BRIEFS
WEEKLY SUPPLEMENT