Hercules nears end of its first cycle with National Bank's participation

EconomyBanking Tags: Banking, NBG, NPLs
National Bank
National Bank

The government’s Hercules Asset Protection Scheme (APS) for reducing bad loans on the books of the country’s major banks now includes all four systemic lenders following National Bank of Greece’s application to participate in the plan.

NBG formally applied to participate in the Hercules guarantee late last week – for a 6.1-billion-euro securitisation of the Frontier portfolio. The senior tranches that will be covered by the guarantee amount to 3.31 billion euros. Both the transaction ...

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