Spectator on facebook

Spectator on facebook

Šramko dispels notion of fallout from Lehman collapse

The National Bank of Slovakia (NBS) never bought shares or other assets from the recently-bankrupt Lehman Brothers investment bank, central bank (NBS) Governor Ivan Šramko said on November 11.

The National Bank of Slovakia (NBS) never bought shares or other assets from the recently-bankrupt Lehman Brothers investment bank, central bank (NBS) Governor Ivan Šramko said on November 11.

"The NBS has an extremely conservative method of investing, which is very close to what the European Central Bank calls for and never invested in any toxic assets or shares from Lehman Brothers," he said.

As a supervisory authority over the investment of pension management companies (DSS), the NBS found no violations.

"There are clearcut rules laying down what a DSS can buy,” he said. “It must be securities holding an investment-grade rating."

But he conceded that some pension management companies (DSS) had bought Lehman Brothers' bonds if not shares. But this ownership does not mean that the investment is doomed if they are bonds. As for DSS, "if at the time of buying a Lehman Brothers bond had an investment-grade rating, the DSS did not break any rule." TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Garth: We need a deal that will benefit both

“When I talk to the Brits living in Slovakia, they are quite relaxed about things,” UK Ambassador to Slovakia Andrew Garth says about the Brexit-related concerns.

UK Ambassador to Slovakia Andrew Garth

Regional authority stops money for school that warned against fascists

Though there is no obvious link between the criticism and the decision to scrap the subsidy, there are some indications.

Marian Kotleba

Eight Tatra peaks in 27 hours

The man from Košice ended up before his goal due to health problems.

Richard Zvolánek

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between August 18 and August 27, as well as regular services in different languages, training for foreigners in English and highlights of the year.

Pivobrana - Beer Festival