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Brazil's Bradesco mulls issuance of new bank subordinated debt

SAO PAULO, April 13 (Reuters) - Brazil's second largest private lender Banco Bradesco SA said it is likely to borrow money from the country's central bank using its credit portfolio as collateral this month, vice-president Cassiano Scarpelli said in a call on Monday.

Earlier in April, the country's Monetary Council authorized the central bank to lend directly to banks using credit portfolios as collateral, in a move that would allow banks in Brazil to issue 650 billion reais in new loans.


(Reporting by Carolina Mandl Editing by Chizu Nomiyama)