Banking

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Photo by MacroPolis BoG urges banks to improve quality of capital, re-doubles SPV efforts

In its latest financial stability report published on Thursday, the Bank of Greece (BoG) took stock of the various positive developments and encouraging signs for the economy and banking sector, while highlighting the challenges for systemic local banks, emanating from the quality of the loan portfolio and the composition of the capital structure that largely constitutes of deferred tax credits (DTC).

Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/] IMF consultation report pinpoints health of Greek banks as central to growth

In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.

Photo via Flickr https://flic.kr/p/4hVnhM Watchdog raid strains testy relationship between banks and govt

Another chapter in the unexpectedly turbulent relationship between the new Greek administration and the country’s banks was written on Thursday when the Competition Commission raided the headquarters of the four systemic banks, Attica bank and the Hellenic Banking Association.

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