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  1. National Bank posts net loss of 1.1 bln in Q4
    Photo by MacroPolis

    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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  2. Deposit outflow rises to 4.7 bln in April as balances drop to lowest since Sept 2004
    Photo by MacroPolis

    EconomyMacroeconomy

    of 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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  3. A Greek proposal that deserves to be heard
    Photo by Harry van Versendaal

    Agora

    and 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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  4. How Greek banks were left on the brink
    Photo by Harry van Versendaal

    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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  5. If it's debt restructuring you're looking for, Regling's not your man

    Agora

    billion maturing in five years and more. According to the funding operations section of the same... of different maturities. The EFSF has a total of over 199 billion euros under its funding programme... although still following the philosophy of taking advantage of the low funding costs of the short end

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  6. Banking system showed deposit inflows for second straight month, at 531 mln in Sept
    Photo by MacroPolis

    EconomyMacroeconomy

    for almost 70 percent of that month’s outflows. At the same time, Greek banks’ Eurosystem funding... at the end of September. Over the past three months, Central Bank funding has fallen by a cumulative...) funding by 4.4 billion to 82.37 billion, while ECB funding eased by 790 million to 39 billion. Since

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  7. Deposit flow turns negative with outflows of 681 mln in Oct

    EconomyMacroeconomy

    . At the same time, Greek banks’ Eurosystem funding fell for the fourth straight month by 2 billion euros to 119.38 billion at the end of October. As a result, Central Bank funding has dropped... Liquidity Assistance (ELA) funding by 4 billion to 82.79 billion, while ECB funding declined by 3.2

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  8. NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
    Photo by MacroPolis

    EconomyBanking

    cash coverage ratio at 53 percent. Eurosystem funding dropped by 1.6 billion euros QoQ to 24 billion in Q4 and further to 23.4 billion on March 10. The current figure incorporates ECB funding of 12.5 billion and Emergency Liquidity Assistance (ELA) funding of 10.9 billion. The cash value

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  9. Banks’ EFSF bonds QE eligible but with little impact on liquidity
    Photo by Andreas Levers via Flickr https://flic.kr/p/5L8Zvu

    Economy

    in the programme. The bulk of banks’ EFSF bond holding were used until now as collateral for ECB funding... in the form of ECB funding with the cash they would get from the EFSF bond sales reducing accordingly their ECB funding reliance, which is currently provided at almost zero interest rates. From an accounting

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  10. NBG completes sale of Finansbank to Qatar National Bank
    Photo by MacroPolis

    EconomyBanking

    bonds, reducing accordingly its reliance on the Emergency Liquidity Assistance (ELA) funding and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros in May implying the nominal value stood close to 3 billion. The ELA funding cost stands 150 basis

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