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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingnet loans from 161 bps in Q1. Balance Sheet Eurosystem funding fell by around 4.3 billion QoQ and came to 1.8 billion at the end of Q2. Emergency Liquidity Assistance (ELA) funding dropped to around 300... quarterly for almost two years now. ELA funding was eliminated despite the ECB waiver for Greek bonds
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Parties gear up for battle over pandemic media funding amid more warnings about press freedom
PoliticsGreek PoliticsPublic funding directed at the media during the pandemic will be at the centre of a parliamentary... outlets under the pretext of public health campaigns on Covid, and of funding pollsters in exchange... half of Greeks disapprove of the government funding commercial news organisations unable to support
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Eurogroup marks end of cycle and squaring of circle for Greece
Agoraeurozone central banks make from their holdings on Greek bonds. They are due to be paid in full, along.... These holdings were at some point put in the scope of reprofiling to make near-term debt repayments smoother... suggests available ESM funding for the cash buffer at 10.2 billion euros and unused ESM funds at 27.4
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Greece's extension proposals to the Eurogroup and what they mean
PoliticsGreek Politicsto be eligible collateral for ECB funding purposes. As a result, Greek banks resorted to the Emergency Liquidity Assistance (ELA) mechanism of the Bank of Greece (BoG) for funding. However, the provision of ELA funding is approved by the ECB twice a month for a 2-week period, while ELA could
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Higher revenues set to ease coalition's liquidity concerns
EconomyProgrammeThe Greek state has to imminently cover funding needs of around 1.2 billion euros this week in two... to rollover their Greek T-Bill holdings as of December, more than 700 million of maturing T-Bills... million from the Manpower Employment Organisation (OAED). The second important funding obligation
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Greece makes new proposals in search for deal acceptable to lenders and MPs
PoliticsGreek Politicsand the International Monetary Fund creating a major funding hump of around 24 billion euros over the next... reduce the funding needs in the mid-term and help Greece regain market access through eligibility... funding (similar to the buyback exercise involving privately held debt at the end of 2012) to buy back
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Greek QE eligibility? We're not there yet
Agorafunding. Draghi confirmed that the ECB insisted during the last Eurogroup on August 14 that any bail... to reinstating the waiver for ECB funding. Such a development would require Greece to be in a financial... currently use for Emergency Liquidity Assistance (ELA) funding. The collateral types that would
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Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
EconomyBanking) contracted by 3 percent QoQ to 440 million, as the positive impact from lower funding cost... for the whole year. Balance Sheet Eurosystem funding fell by 5.4 billion QoQ to 15.5 billion in Q1, largely due to a cut in ECB funding by 4.5 billion. Emergency Liquidity Assistance (ELA) funding
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Greece and troika: Bailout tranche, funding gap and debt relief still pending
PoliticsGreek Politics, it will also clear the way for a discussion on the funding gap that lies ahead this year and in 2015... completed. With the funding gap debate settled, discussions will move to the much trickier matter
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After paying IMF, Greece looks to cover remaining funding needs for March and April
EconomyProgrammeΤhe government has covered a large part of its funding needs for March, which mainly comprised of 1.5 billion euros in payments to the International Monetary Fund and the rollover of 4.6 billion... relate to the payment of 1.55 billion euros in wages and pensions each month, while external funding
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