November 6, 2019 / 11:34 AM / 9 days ago

Slovak central bank governor: higher bank tax would threaten financial stability

BRATISLAVA, Nov 6 (Reuters) - A Slovak government plan to double and extend a special tax levied on bank’s liabilities would threaten financial sector stability, Slovak central bank Governor Peter Kazimir said on Wednesday.

“Today’s government decision increases risks to financial stability of the banking sector, both in terms of the rate and the continuation of the tax. I failed to persuade the government not to approve the bill without an expiration date and at the double rate,” Kazimir told reporters at a briefing broadcast life on television.

The euro zone country’s government agreed earlier on Wednesday to raise the tax next year to 0.4% of liabilities, excluding basic capital, and to make the change permanent. The bill has to be approved by parliament where its chances are uncertain. (Reporting by Tatiana Jancarikova Editing by Jan Lopatka)

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