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Banking
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Economy
This is the government's strategy on banks and NPLs as part of third bailout One of the four pillars outlined in the draft bill that was tabled to Parliament accompanying the draft agreement for new financial aid from the European Stability Mechanism (ESM) relates to safeguarding financial stability.
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EconomyMacroeconomy
ELA funding down by 1.48 bln in July for first monthly drop since May 2014 Greek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion in June, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.
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Economy
Bank recap and NPL management create conundrum in bailout talks Two bank-related themes, namely the recapitalisation process and the management of non-performing loans (NPLs), are among the key unresolved issues in the ongoing discussions between Greek authorities and the institutions.
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EconomyMacroeconomy
Drop in corporate loan rates led the average loan rate at a new historic low Greek households’ new time deposit rate remained at 1.81 percent in June unchanged from the previous month, according to the Bank of Greece (BoG).
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EconomyMacroeconomy
Credit contracts at slower pace of 1.7 pct in June, monthly loan flow positive Greek bank credit contracted at a decelerating pace for the third successive month by 1.7 percent in June from 2.1 percent in May, according to the Bank of Greece (BoG). The June headline rate indicates the slowest decline since August 2011.
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EconomyMacroeconomy
June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years Greek private sector deposit outflows accelerated to 7.58 billion euros in June from 3.86 billion in May, according to the Bank of Greece (BoG).
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Economy Fitch puts Greek banks' capital needs between 11.2 and 15.9 bln A report by Fitch ratings agency estimates the 25 billion earmarked in the Euro Summit statement of July 12 for Greek bank recapitalisation should be sufficient unless deferred tax assets (DTA) cease to be counted as core capital.
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EconomyMacroeconomy
ELA funding up by 9.2 bln in June, banknotes in circulation reach all-time high Greek banks’ Eurosystem funding rose by 10.17 billion euros in June after increasing by 3.56 billion in May, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.
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EconomyBanking
Eurobank acquires Alpha network in Bulgaria, kicking off round of consolidation abroad In a joint statement released by Alpha and Eurobank on Friday evening, the two banks announced the acquisition of Alpha’s branch network in Bulgaria by Eurobank’s subsidiary in Bulgaria, Postbank.
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Economy
ECB increases ELA limit for Greek banks in first positive signal since referendum During a regular press conference on Thursday, European Central Bank President Mario Draghi announced the lender's governing council decided to approve a Bank of Greece (BoG) request to increase the Emergency Liquidity Assistance (ELA) limit for Greek banks by 900 million euro for one week.