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Greek deposits up 0.6 pct to 164.23 bln in August, which sees year's highest inflows
EconomyMacroeconomybeen posted until then. Although deposit flow is slightly positive so far in 2014, the reliance of Greek banks on Eurosystem funding has been reduced by close to 30 billion euros (circa 40 percent... systemic banks, the replacement of ECB funding by interbank lending, ongoing loan deleveraging
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Managing an orderly Greek exit from the memorandum
Agorabanking system and public finances until Madrid has paid off 75 percent of the 41 billion euros... of the International Monetary Fund from the current funding programme. The IMF part of the second... line (PCL). The PCL is a contingent or emergency funding facility. It forms part of the IMF’s toolbox
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Troika and Greece in stalemate over budget targets, prior actions as time ticks away
EconomyProgrammeto sensitive issues such as social security, labour market and public sector reforms until next year... at the beginning of next year, Greek banks may not have access to ECB funding but resort only to Emergency Liquidity Assistance (ELA). Greek banks have eliminated the more expensive ELA funding since last May
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2014 is not 2012
Agoranaturally reduced their ELA dependency until it was entirely eliminated in May this year. Greek banks have... crisis with eurosystem funding of 20.6 billion euros in October 2008, one month after the collapse... eurosystem funding is 12.1 percent of the combined 346.4-billion-euro balance sheets of the four
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Conditions for Greek ECCL reportedly outlined in German document
EconomyProgrammein the current account balance. 5) Access to capital markets. Despite the issues of 3- and 5-year bonds until... that Greece’s funding needs for 2015 range between 6 and 12 billion euros. This means that the 10.9 billion could cover more than 90 percent of the upper-end of the anticipated funding gap. Reports
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Greek deposits almost unchanged at 164.3 bln in November
EconomyMacroeconomyto just a fraction of the 89 billion deposits that had been withdrawn from Greek banks until... funding by more than 28 billion euros in the year to date. This development followed the capital... in the first half of the year and is also attributed to replacement of ECB funding by interbank lending
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The bad hand being dealt to Greece's next government
Agoraweeks. Political uncertainty did not become a factor until much later in the process, by which time..., the option of turning to T-Bill issues to cover short-term funding needs is not currently... as it takes over. Repos near limit The scope for turning to another short-term funding tool, which
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Moody's explains why it sees SYRIZA win as credit negative
Economy7-8 billion since early December and are likely to continue until there is more clarity regarding... outflows increase Greek banks’ reliance on ECB funding, which is contingent on a troika support... raises doubts about the funding of SYRIZA fiscal programme focusing on short-term fiscal measures
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Referendum call stretches state liquidity, pensioners first to bear the brunt
EconomyProgrammeJune 29 until July 6 had a series of negative repercussions on the life of Greek citizens..., citing funding issues that arose due to the capital controls. This is mainly attributed to revenues... probably fall short of target for the second straight month creating an additional funding issue
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Have inflation "repay" Greek debt and growth reduce indebtedness
Agorabecause lenders would know that Greece is free of major debt obligations until 2065. And the beauty... of this measure would be equal to the cost of funding the 80 BEUR when those 80 billion don’t generate a return. Assuming that Germany can currently fund itself at 1 percent, the annual funding cost would
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