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How Greek banks can balance on the collateral tightrope
Agorapercent for T-Bills to 20-30 percent for pillar II and III bonds and up to 50-55 percent for loans... eligible collateral shows that the bulk relates to pillar II bonds and loans. Based on the ELA... split between pillar II bonds and loans, as MacroPolis explained last month. For pillar II
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Greek banks on cusp of improved liquidity conditions
Agora(GGBs), T-Bills, pillar II and III bonds, used as collateral for ECB funding via the Emergency Liquidity Assistance (ELA). It is worth noting that according to a previous ECB decision, pillar II bonds... that the reinstatement of waiver will not have any impact on pillar II bonds. According to the latest available
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PM unveils 'Greece 2.0' plan to use EU recovery funds, transform economy
Economypillars of the plan. The aim of plan is to mobilise 10.4 billion euros under this pillar once the private... 1.1 billion euros of the EU grants. Of the four pillars, the other pillar where the government aims... Transformation pillar. Here, the blueprint sees 4.8 billion euros from grants increasing to 7.8
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PMI rises to 54.4 points in April, highest since February 2020
EconomyMacroeconomyin the headline figure was also in part due to a further deterioration in vendor performance in April... in vendor performance. As such, input costs soared once again.”
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ECB set to provide extra liquidity to Greek banks but capital needs remain an issue
Economybillion euros under pillar II of bank support scheme), special Greek government bonds (close to 7 billion under pillar III), Greek government bonds (close to 6 billion post PSI and debt exchange in late 2012) and EFSF bonds. For pillar II and III bonds, the current haircut stands at 25 and 30 percent
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Greek banks' Eurosystem funding jumps to 87.4 bln in Jan, ELA at 5.2 bln
EconomyMacroeconomyof interbank renewal. c) Utilisation of additional pillar II state-guaranteed bonds for ECB funding... pillar II guarantees with a cash value of 21 billion at the end of September. This amount.... These collaterals relate to pillar II bonds of a government liquidity support scheme initially launched
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Athens calibrates domestic and diplomatic response to Iran war as tension with Turkey resurfaces
PoliticsGreek Politicsto signal control and preparedness at a moment of heightened public anxiety. The first pillar... posture The second pillar - defence - has become the most politically charged. Athens insists its... become a target. The third pillar - diplomacy - has intensified sharply. Mitsotakis has spoken
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Bond issued for capital support of Greek banks in 2009 reaches maturity
Economy, which banks would use for liquidity purposes. The amount for the liquidity pillar was later increased... in cash on July 18, 2011. The issue of what would happen to the pillar bond was the focus last October... million on May 21, the same day the pillar bond was due to expire. Piraeus's move is facilitated
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What are the implications of the ECB's decision for Greek banks?
Economy, state-guaranteed bank bonds (pillar II) would not be ECB-eligible as of March 1. The cash value of those... are pillar III bonds, Greek government bonds (GGB) and T-Bills. For the first two categories, the total amount is less than 10 billion, around 4-5 billion for pillar III and close to 5 billion for GGBs. Until
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Greece prepares set of proposals for bridging deal with eurozone
PoliticsGreek Politics. The first pillar of either agreement, involves pledges for implementation of 70 percent of structural.... The second pillar relates to a downward adjustment of the primary surplus targets from the 3 percent.... The third pillar is based on a debt relief plan, most likely in the form of debt swaps. According
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