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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBanking. The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... in deposit spread (by 9 bps) and further reduction in Central Bank funding balances and cost. Going forward... funding fell by 2.5 billion euros QoQ to 13.2 billion corresponding to 14 percent of assets. Note
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Finance Ministry challenges SYRIZA's plans for economy, ups cost
Economybillion. Revenues Another major issue highlighted by the MoF involves the funding of SYRIZA’s measures... that tackling tax evasion requires a long time to bear fruit, while the other funding sources identified by SYRIZA are not realistic. The government argues this would create an imminent funding gap that would
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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgrammeof Emergency Liquidity Assistance (ELA) funding to Greek banks. The initial approval was granted on January 21... bonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB decision back in March 2013. The cash value of ECB funding that has been utilized by Greek banks
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Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln
EconomyMacroeconomy. This funding source was utilised for the first time in Q1 2014 and relates to intra-government funding... Greek banks’ zero reliance on ELA funding as of May. However, this figure is expected to rise again... by the Hellenic Republic as collaterals for ECB funding as of February 11. The breakdown of guarantees
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S&P acts in wake of ECB decision and downgrades Greek rating to B-
Economyto switch their ECB funding to ELA, although the continuity of ELA funding to Greek banks, including... lenders will conclude, with sufficient official funding flows to meet financial obligations. However, S&P could lower its rating on Greece if it perceives that official funding has been curtailed
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Eurobank posts loss of 523.7 mln in Q4 2014
EconomyBankinginternational activities. Eurosystem funding rose to 12.5 billion in Q4, while jumped to 29 billion by February... outflows of 5 billion and lack of marker repos renewals of 9.1 billion. ELA funding reached 19.5 billion in February making up two-thirds of total Eurosystem funding. The bank also disclosed it has ELA
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National Bank posts net loss of 1.1 bln in Q4
EconomyBanking. As already evident in the results of the other three Greek banks, NBG’s Eurosystem funding rose... is made up by ECB funding of 9.7 billion (primarily EFSF bonds) and ELA funding of 13.3 billion. The bank noted it has a liquidity buffer of around 15 billion mostly for ELA funding with 44 percent of ELA
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Deposit outflow rises to 4.7 bln in April as balances drop to lowest since Sept 2004
EconomyMacroeconomyof Greek banks’ Eurosystem funding to 112.84 billion at the end of April, up by 68 billion on the end-November figure of 44.85 billion. Two-thirds of Central Bank funding relate to ELA funding (74.4 billion) and the remaining one-third to ECB funding (38.5 billion) almost entirely comprised by EFSF
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A Greek proposal that deserves to be heard
Agoraand repayments to the International Monetary Fund that create a major funding hump of around 24... reduce its funding needs in the mid-term and help Greece regain market access through eligibility for the ECB’s quantitative easing (QE) programme. Using European Stability Mechanism funding
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How Greek banks were left on the brink
Agora-term external funding needs, largely payments to the International Monetary Fund and to replace...) to lift the waiver for Greek government securities, previously used for ECB funding purposes, led to Emergency Liquidity Assistance (ELA) funding exceeding 74 billion at the end of April. Greek banks also
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