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Greek deposits down 4.2 bln in Dec for highest outflows since June 2012
EconomyMacroeconomyGreek private sector deposits fell for the third straight month in December, when they declined by 2.4 percent month on month (MoM). Balances reached 160.29 billion euros, according to the Bank of Greece (BoG).
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Greek credit contracts by 3.1 pct in December
EconomyMacroeconomyThe rate of contraction in Greek bank credit slightly accelerated to 3.1 percent in December from 3 percent in November, according to the Bank of Greece (BoG). However, this was the second lowest negative reading since November 2011.
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Eurosystem funding for Greek banks shoots up by 11.2 bln in December
EconomyMacroeconomyGreek banks’ Eurosystem funding shot up by 11.19 billion to 56.04 billion euros at the end of December from 44.85 billion at the end of November, according to the Bank of Greece's (BoG) annual financial statement.
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Greek banks set for early ELA return in apparent precautionary move
EconomyKathimerιni daily revealed on Friday that two of the four systemic banks have submitted requests to the Bank of Greece (BoG) for raising liquidity of 5 billion euros through the Emergency Liquidity Mechanism (ELA), while the other two are expected to follow suit in the coming days.
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What is SYRIZA planning to do with Greek banks?
EconomySYRIZA leader Alexis Tsipras has repeatedly outlined the party’s immediate economic policies which mainly involve three key themes: asking for a significant reduction of nominal debt, renegotiation with the eurozone on the Memorandum of Understanding (MoU) policies and implementation of a 3-pillar programme with a total cost estimated at 11.4 billion euros.
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Greek time deposit rate down to 1.88 pct in November, lowest since euro entry
EconomyMacroeconomyThe interest rate on households’ new time deposits dropped by another 6 basis points (bps) to 1.88 percent in November, according to the Bank of Greece (BoG). This is the lowest reading since Greece accessed the euro area in 2002.
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Greek deposits almost unchanged at 164.3 bln in November
EconomyMacroeconomyGreek private sector deposits dropped for the second successive month in November, edging down by by 0.1 percent month on month (MoM) with their balances landing at 164.3 billion euros, according to the Bank of Greece (BoG).
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Contraction in Greek credit eases slightly to 3 percent in November
EconomyMacroeconomyThe rate of drop in Greek bank credit decelerated for the second straight month in November, falling to 3 percent from 3.2 percent in October, according to the Bank of Greece (BoG).
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Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets
EconomyBankingIn an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.
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Bank of Greece sees growth at 0.7 pct in 2014, NPLs up to 34.1 pct
EconomyMacroeconomyThe Bank of Greece (BoG) expects GDP to expand by 0.7 percent in 2014 and further by 2.5 percent in 2015, according to the 2014 Interim Monetary Policy report.