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Report: Portuguese central bank should not oversee bank resolution fund, study says

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Report: Portuguese central bank should not oversee bank resolution fund, study says

A Banco dePortugal study recommended that the finance ministry take controlof the bank resolution fund from the central bank.

The move would prevent a potential conflict of interest betweenthe Portuguese central bank's duties as a supervisor and its responsibility tosell failed banks, Reuters reported May 5.

The proposal comes amid a planned sale of Novo Banco SA, the good bank carved out of failedBanco Espírito SantoSA in 2014.