Parliament to Amend Banking Act to Secure NLB Capital Hike
The National Assembly will hold an extraordinary session Friday to pass amendments to the banking act needed for a capital injection at the state-owned NLB bank.
The banking act changes lift limits on conditional capital to enable NLB recapitalisation by the 30 June deadline set by the European Banking Authority (EBA) and Slovenia's central bank.
It will allow the bank to issue contingent convertible bonds (CoCo bonds), which may be converted into equity in the event the bank's capital adequacy falls below a certain level.
Though this appears the only way NLB can secure extra capital on time, there are fears that the move will allow Belgian KBC, the second largest shareholder, to gain control of NLB through the back door.
This concern has been voiced both by the opposition and the state Capital Asset Management Agency (AUKN).
Deputies will also debate a proposal to slash the compensations for former deputies and ministers, who will be entitled to a salary compensation for half a year instead of one year if they are unable to find a new job.
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". . . if they are unable to find a new job." I wonder how many bother looking for a new job at all for the first year instead of taking an extended vacation. Most of us could live for several years with one year's worth of their salaries.
I also wonder how many Slovenes are aware of the self-voted perks enjoyed by our politicians. It's like the "good old days" pre-1991 when CP-appointed directors went from company to company and collected a full pension from each one as they "retired." I'd bet we could have our own expenses scandal like the British government had if anyone (journalists?) bothered to look.