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Deposits up again in December but credit contraction continues apace
EconomyMacroeconomyGreek private sector deposits increased 1.4 percent month on month (mom) for the second straight month in December with balances reaching 163.25 billion euros, according to the Bank of Greece (BoG).
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C/A balance positive by 1.4 bln to Nov, 2013 surplus in sight
EconomyMacroeconomyGreece's November current account (C/A) balance showed the deficit marginally shrinking to 744 million euros from 753 million last year, according to the Bank of Greece (BoG).
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Greek banks' reliance on Eurosystem funding rose in December for first time since April
EconomyMacroeconomyGreek banks’ Eurosystem funding, the combined liquidity they have received from the European Central Bank (ECB) and the Bank of Greece (BoG) Emergency Liquidity Assistance (ELA) mechanism, rose by 2.92 billion euros in December, according to the BoG’s 2013 annual accounts.
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Greece records primary cash deficit in 2013
EconomyMacroeconomyGreece’s 2013 central government net balance on a cash basis showed the deficit widening by 19.6 percent to 12.79 billion euros from 10.7 billion last year, according to the Bank of Greece (BoG).
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Bank of Greece decision bolsters Greek lenders’ capital ratios
EconomyMacroeconomyIn an unexpected move, the Bank of Greece (BoG) repealed a previous cap on the deferred tax asset (DTA) recognition in Greek banks’ Core Tier 1 (CT1) calculation, resulting in a positive impact on their capital ratios effective in the fourth quarter of 2013.
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Deposits edged up in Nov but credit contraction was close to 4 pct
EconomyMacroeconomyGreek private sector deposits increased by 0.4 percent month on month (mom) in November, for the first time since May, with balances reaching 161.04 billion euros, according to the Bank of Greece (BoG). Net inflows stood at 394 million in November from outflows of 630 million in October.
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October C/A deficit drops to 351 mln, down 39.1 pct over year
EconomyMacroeconomyGreece's October current account (C/A) balance showed Greece’s deficit shrinking to 351 million euros from 577 million last year, according to the Bank of Greece (BoG).
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Bank of Greece sees 0.5pct growth in 2014 but warns of political risks
EconomyMacroeconomyGreece is expected to post a general government primary surplus as well as a current account surplus of 1 percent of GDP for the first time in 2013, according to the Bank of Greece’s (BoG) interim report on Monetary Policy published on Tuesday.
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Cash deficit to November rises to 9.9 bln as Greece pays off arrears
EconomyMacroeconomyThe central government net balance to November on a cash basis showed the deficit widening by 30 percent to 9.96 billion euros from 7.67 billion last year, according to the Bank of Greece (BoG).
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Banks' reliance on Eurosystem funding eases for seventh straight month in Nov
EconomyMacroeconomyGreek banks’ Eurosystem funding, the combined liquidity they have received from the European Central Bank (ECB) and the Bank of Greece (BoG) Emergency Liquidity Assistance (ELA) mechanism, marginally eased by 0.33 billion euros in November, according to the BoG’s monthly financial statement.