herald

Friday 18 January 2019

Rap for Finance chiefs

THE Department of Finance has been criticised by the European Central Bank (ECB) for not consulting it earlier over the extension of the bank-guarantee scheme.

The Bank said it must be allowed enough time to examine bank-guarantee extensions before it goes on to give formal approval.

The Department said the extension had been agreed at a very late stage with the EU Commission before it went to the ECB.

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