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  1. NBG Q2 trading update shows higher pre-provision income, marked improvement in NPL formation
    Photo by MacroPolis

    EconomyBanking

    reflecting: a) the higher reliance on the Emergency Liquidity Assistance (ELA) funding, which comes... outflows also led to increased dependence on Eurosystem funding by 4 billion euros to 27.6 billion.... This is almost entirely attributed to a similar change in ELA funding, which rose to 17.6 billion in Q2 from

    2%

  2. Negative deposit flow of 1.12 bln in Jan

    EconomyMacroeconomy

    not 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

    2%

  3. Government faces tight schedule for amendments to bailout legislation

    EconomyProgramme

    to 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

    2%

  4. 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

    2%

  5. Newsletter 92 - 14/10/2016

    Newsletters

    , 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

    2%

  6. Some progress in first round of talks but most second review issues remain unresolved
    Photo by MacroPolis

    EconomyProgramme

    as 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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  7. Alpha and NBG complete sales of hotels
    Photo by MacroPolis

    EconomyBanking

    Assistance (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

    2%

  8. Second review to resume in Athens under severe time pressure
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyProgramme

    Ministry, 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

    2%

  9. Eurogroup grants short-term debt relief but leaves Athens fretting over fiscal targets and IMF
    Photo via Fosphotos

    EconomyProgramme

    tranche 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

    2%

  10. Deposits edge up to 124.8 bln in Nov on marginal inflows of 12 mln

    EconomyMacroeconomy

    of November. BoG data published on December 13 displayed Greek banks’ Eurosystem funding dropped...) funding by 2.06 and 1.24 billion respectively. Greek banks’ reliance on Central Bank funding has declined

    2%