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Negative deposit flow of 1.12 bln in Jan
EconomyMacroeconomynot yet provided the evolution of Eurosystem funding for January, which is due in the coming days. Since July, central bank funding has dropped by 19.1 billion until the end of December primarily reflecting a reduction in the Emergency Liquidity Assistance (ELA) funding by 17.9 billion. In addition
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Government faces tight schedule for amendments to bailout legislation
EconomyProgrammeto reinstate the waiver on Greek government securities for Greek banks’ access to ECB funding subject... (ELA) to ECB funding. Assuming also a reduction in the haircut applied to this collateral, Greek banks would benefit from lower funding costs for a total liquidity amount of 6-7 billion. It is worth
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Encouraging signs for Greek banks in Q1 results but NPL management looms large
Agorastems from a further reduction in their reliance on the Emergency Liquidity Assistance (ELA) funding... be replaced by cheaper ECB funding. This would have a positive impact on banks’ NII of 76 million... of -40 bps versus zero cost for EVB funding entailing a positive impact of 130 million on their NII
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Greece's public healthcare in a muddled and troubled state
EconomyFeaturespercent in 2014 to 59.7 percent in participation of the public sector in the total funding on health expenditure was observed. Conversely the participation of private sector in the total funding... private funding, 31.3 percent from social security funds and 28.4 percent from general government
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Deposit flow turns negative, outflows of 153 mln in July
EconomyMacroeconomy, Greek banks’ dependence on Eurosystem funding further dropped by 4.3 billion in July reflecting a decrease in the Emergency Liquidity Assistance (ELA) funding by 2.93 billion, while ECB funding also
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Newsletter 92 - 14/10/2016
, respectively. Eurosystem funding fell for the 15th straight month in September, dropping by 3.15 billion... assistance (ELA) funding by 1.82 and 1.33 billion, respectively. Overall, the Greek banks’ reliance on central bank funding has been reduced by 32.2 billion since the beginning of the year, largely
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Some progress in first round of talks but most second review issues remain unresolved
EconomyProgrammeas funding of the guaranteed minimum income (GMI), where substantial progress has been achieved but which... to have different views on the GMI funding. The institutions reportedly proposed the reduction..., mainly due to GMI funding. The Greek side argued that the revenue outperformance in the first nine
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Alpha and NBG complete sales of hotels
EconomyBankingAssistance (ELA) funding. Based on the latest official data for August, NBG’s ELA funding stood at 5... to assets, NBG’s reliance on ELA funding is by far the lowest among its Greek peers. In its weekly
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Second review to resume in Athens under severe time pressure
EconomyProgrammeMinistry, which identified labour reforms, the fiscal gap and the funding of the guaranteed minimal... funding, which is foreseen at 760 million. A negative development also emerged after the downward... collection will be in line with the target, the Fiscal Council stresses. On the GMI funding, a World Bank
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Eurogroup grants short-term debt relief but leaves Athens fretting over fiscal targets and IMF
EconomyProgrammetranche of the 2nd Greek programme for the year 2017 and the use of the EFSF/ESM funding strategy... ESM funding costs. He said that the combination of the measures would lead to Greek debt-to-GDP ratio... proposals. Instead, it seems that the process has now been linked to Greece’s funding needs and debt
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