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Report: Slovenian central bank rejects rumor that governor set to quit

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Report: Slovenian central bank rejects rumor that governor set to quit

Slovenia'scentral bank rejected a newspaper report that Governor Bostjan Jazbec is set toresign amid a police investigation into the institution's conduct during thecountry's 2013 banking crisis, Reuters reported July 11.

Bankingsources had told Slovenian newspaper Financethat Jazbec could step down July 20, a day after an expected EU Court ofJustice ruling on the legality of the central bank's move to wipe out about€600 million of subordinated bank bonds during the crisis. In an emailedstatement, the BankaSlovenije described the report as "entirely untrue" andsaid Jazbec had no plans to quit.

Slovenianpolice on July 6 carried out a raid of the Banka Slovenije over the bondwrite-down, which has led to legal action against local lenders and the centralbank, Reuters noted. ECB President Mario Draghi has warned of potential legalaction over the raid, saying the data seized was protected under EU lawgranting the ECB special immunity, according to a July 6 Wall Street Journal report.

Jazbec,meanwhile, told a parliamentary commission July 8 that police during the raidtook confidential documents unrelated to their investigation, warning that theseizure of original documents "could cause risks to financialstability," Reuters reported the same day. Jazbec himself is a target ofthe probe, a Banka Slovenije spokeswoman told Reuters the previous day.