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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgrammebonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB... and sight recorded inflows of around 1 billion each. However, banking sources stress that outflows...). Local media had indicated that the state’s remaining cash reserves do not exceed 2 billion euros
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Greek time deposit rate falls to 1.82 pct in Dec, lowest during euro membership
EconomyMacroeconomymaturity for amounts above 1 million euros. A similar drop was also evident in November. As a result... mid-2010. However, the current rate remains around 2 percentage points higher than the euro area average... 250,000 and 1 million euros). In the household lending segment, the housing loan rate reversed
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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake... place in Eurobank on February 1, when Nick Karamouzis was named new non-executive chairman... of this intervention was estimated at 2 billion euros. Since further details have not been disclosed
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National Bank posts net loss of 1.1 bln in Q4
EconomyBankingincome (PPI) fell 12 percent quarter on quarter (QoQ) to 363 million in Q4 reflecting a 2 percent drop... ratio at 45 percent. Gross loans rose by almost 1 percent QoQ and 2.7 percent YoY to 72.1 billion..., loan to deposit ratio deteriorated by 2 pps QoQ in Q4 to 95 percent for the group and to 83 percent
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Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery
Economy: 1) A break-down in negotiations between Greece and its creditors leading to alternative solutions... including bonds held by the private sector. 2) Arrears to the IMF would not in and of themselves... bonds probable. In contrast, the following developments could result in a rating upgrade: 1
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Moody's downgrades Greek bond rating, sees chances of accident rising
Economykey drivers behind the downgrade: 1) The high uncertainty related to whether Greece will reach an agreement with its official lenders in time to meet upcoming debt repayments. 2) The significant... in the near term given the prevailing downside risks, Moody’s could upgrade Greece’s rating in case of: 1
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Finance Ministry wavers as revenues remain at the forefront
EconomyProgramme, local media report that the fiscal gap is seen at around 2 billion by the institutions and below 1... said that additional VAT revenues should reach 1 percent of GDP, corresponding to 1.8 billion euros... Tuesday (June 2).
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Sharp increase for Greek bank provisions in Q2 due to capital shortfall highlighted by ECB
EconomyBankingEmergency Liquidity Assistance (ELA) usage. Deposits fell by 13.7 percent QoQ in Q2 and further by 2... to 67 percent in Q3 from 63 percent in Q1. On the capital front, the Common Equity Tier 1 (CET1) ratio... more than offsetting the lower time deposit cost. Gross loans slipped 1 percent QoQ to 73.28 billion
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Newsletter 62 - 12/02/2016
, which would be reduced by 1 percentage point for incremental income of 1,000 euros. Thus, the discount... at an accelerating pace of 5.2 percent in December from an upward revised 2 percent in November. December’s... is the highest since January 2007. 2 A rock and a hard place PM can no longer charm his way out
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Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
EconomyBankingfor cost of risk south of 2 percent in 2016 and below 1 percent in 2017-18. The overall stock... the capital raising in November, the bank’s phased-in Common Equity Tier 1 (CET1) ratio increased to 17... of risk below 2 percent and flattening out NPL formation. The single most important driver for PPI
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