HFSF Q3 report shows 23 bln valuation losses in Greek banks

EconomyBanking Tags: Banking, HFSF
Photo by MacroPolis
Photo by MacroPolis

The Hellenic Financial Stability Fund (HFSF) 9-month financial statements revealed that the fund’s equity nosedived to 4.69 billion euros at the end of September from 24.51 billion at the end of 2014.

The sharp drop in the 9-month equity largely reflects valuation losses of 8.27 billion, stemming from HFSF share in the four systemic Greek banks and return of 10.9 billion EFSF bonds to EFSF in February 2015.

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