CtrlBank to control CEC Bank over credit given President Basescu's daughter

The National Bank of Romania will control state-owned CEC Bank to look into the conformity of the credit given President Traian Basescu's daughter, the National Bank's Supervisory Directorate chief Nicolae Cinteza announced at EU-COFILE seminar on Thursday.

The check-up can be carried out either by the Central Bank's own decision, if there is the possibility that the impact of the credit-extension were very strong for the bank and the bank were to suffer from it or as a result of a request. Such request was made by the Finances Ministry, in its capacity of the bank shareholder.

Cinteza said he had received such a request on Wednesday. He added the control will begin next week most likely, with the deadline for its completion being Dec. 9.

'The result will be discussed within the limits of the law only. Namely, we will merely inform whether the credit was extended correctly or whether deviations had been found', Cinteza stressed.

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