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ECB refuses Greek government bonds as collateral: What does it mean?
EconomyIn an unexpected move, the European Central Bank announced on Wednesday night that it is lifting the waiver on Greek banks using junk-rated government bonds as collateral for funding.
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The state of play with Greek banks' liquidity
EconomyThe ECB is expected to decide on Wednesday, February 4, on the extension for another 2 weeks of Greek banks’ access to Emergency Liquidity Assistance (ELA) funding.
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Review completion and SMP redemptions will decide Greece's QE eligibility
EconomyProgrammeAs expected, ECB President Mario Draghi announced today a Quantitative Easing (QE) programme which involves an expanded asset purchase programme up to 1.1 trillion euros. Starting from March, the programme is intended to be carried out until the end of September 2016.
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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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Greek banks' Eurosystem funding rises again in November, up by 1 bln
EconomyMacroeconomyGreek banks’ Eurosystem funding increased for the second straight month in November, when it rose by 1 billion euros, according to the Bank of Greece's (BoG) monthly financial statement on Wednesday.
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Greek banks' Eurosystem funding rises by 1.28 bln in October after five-month fall
EconomyMacroeconomyFollowing a drop in the preceding five months, Greek banks’ Eurosystem funding rose by 1.28 billion euros in October, according to the Bank of Greece's (BoG) monthly financial statement.
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ECB tests find negligible capital shortfalls at Greek banks
EconomyThe European Central Bank (ECB) published on Sunday the much anticipated results of its comprehensive assessment on the financial health of 130 banks in the euro area, with just one Greek lender (Eurobank) appearing to have a capital shortfall and even in that case it being less than 18 million euros.
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ECB stress tests and what they will mean for Greek banks
EconomyThe European Central Bank (ECB) is due to release the results of its comprehensive assessment of the financial health of 130 banks in the euro area at noon (CET) on Sunday. In the two weeks that follow banks will have to submit their capital plans, detailing how capital shortfalls will be covered in the next 6-9 months.
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ECB set to provide extra liquidity to Greek banks but capital needs remain an issue
EconomyIn its latest comment on Greek banks, Fitch noted that they remain burdened by a large stock of non-performing loans (NPLs), despite capital enhancement and progress with their restructuring plans.