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Newsletter 58 - 15/01/2016
for a rise in the SSC for supplementary pensions by 1.5 percentage points (pp), of which 1 pp will come... euros required to achieve the agreed pension cost savings of 1 percent of GDP (1.8 billion) in 2016...–20,000 euros. On the fiscal front, there are estimates that the fiscal gap could reach 0.5–1 percent
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Wide range of exacting issues lie ahead for Greece in first bailout review
EconomyProgrammebailout programme calling for pension cost savings of 1 percent of GDP (1.8 billion euros) in 2016... to legislate credible measures yielding 1 percent of GDP in total for 2017-18 to support the 2018 fiscal target... sub-tranches of 2 and 1 billion were disbursed on November 23 and December 22 after
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Time deposit rate almost stable in December, average loan rate rises 17 bps
EconomyMacroeconomyGreek households’ new time deposit rate rose by 1 basis point to 1.02 percent in December, Bank... in corporate lending were recorded in loans for amounts above 1 million euros, where rate rose by 19 bps to 5.19 percent and in for amounts between 250,000 and 1 million euros, where rate fell 13 bps
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Central gov’t debt rises to 321.3 bln in Q4, financial aid loans at new high of 220.4 bln
Economy: a) the disbursement of the two bailout sub-tranches of 2 billion euros on November 24 and 1 billion... short-term (up to 1 year) and medium-term (1 to 5 years) debt. Greece’s cash deposits advanced
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Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
EconomyBankingstock falling by around 1 billion euros from its 2015 level of 26.88 billion. The bank also disclosed... Eurosystem funding shows 13.7 billion relate to EFSF and ESM bonds, 14.4 billion to loans, 1 billion... in November, the phased-in Common Equity Tier 1 (Tier1) ratio reached 17.8 percent in Q4 with the fully
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingreflects: 1) Negative impact of 1.16 billion euros from Finansbank (mostly additional impairment of 612.... Net interest income (NII) edged up 1 percent QoQ to 474 million euros, largely due to lower..., the Common Equity Tier 1 (CET1) ratio reached 17.5 percent in Q4. The fully-loaded Basel III CET1 ratio
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Some progress made as Greek programme review heads for break
EconomyProgrammescale are estimated at around 1 billion euros, while an increase in the solidarity levy rates is also considered, which could fetch another 1 billion in tax revenues. Another tax issue relates... also discussed measures yielding at least 1 percent of GDP for achieving the primary surplus target
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Greek ministers still hopeful of reaching deal with creditors this month
Economyfiscal measures yielding 1 percent of GDP each. However, he did not comment or provide any detail...’s plan on the income tax reform would yield 1 percent of GDP via a change in the income tax scales... taxes. Pensions On the pension reform, Katrougalos said that the government’s plan yields 1 percent
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Corporate lending rates fell in March, time deposit rate slightly down to a new low of 0.88 pct
EconomyMacroeconomyof 0.61 percent. Overall, the weighted average rate on total new deposits slipped marginally by 1 bp... in March was a sharp drop by 90 bps in loans for amounts over 1 million euros to 3.93 percent from 4.83 percent in March. In addition, the rate for amounts between 250,000 and 1 million euros fell
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IMF sets out stall ahead of crucial Eurogroup by proposing immediate debt relief
EconomyProgrammesustainable, the IMF suggests: 1) Maturity extension of 14 years for EFSF loans, 10 years... is weaker (1 percent) and primary surplus lower (1 percent of GDP), debt would not become sustainable
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