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Newsletter 224 -18/10/2019
the aggregate PIB balance landed on a deficit of 777 million euros. Eurosystem funding down by 699.8 mln... funding declined by a total of 4.72 billion euros. Greek banks’ Eurosystem funding fell by 699.8... statement. The total for central bank funding comes to 7.51 billion, fully reflecting a drop of 700
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Alpha Bank posts net profits of 97.1 mln in 2019
EconomyBankingdisbursements at the end of Q3, lower wholesale funding costs and increased income from investments which.... The current amount for Eurosystem funding is made up fully of European Central Bank funding. As at the end of Q4, funding came to 3.1 billion, composed fully of TLTRO funding from the ECB, while the open
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Government adamant snap polls are not under consideration
PoliticsGreek Politicsfunding has declined significantly since 2012 because its share of the vote in the national elections has fallen dramatically. Greek parties receive state funding based on their share of votes in the previous elections, representation in Parliament and participation in elections. This funding is drawn
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For 2026, PDMA sticks to debt strategy that proved successful previously
Economyto achieve four main objectives: Enhancing market access, containing funding costs and debt related risks... and maintaining regular market operations. The funding costs and risks containment will be achieved... risks. Greece’s total funding needs for the year are estimated at 24.68 billion euros, broken down
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Greek deposits edge up for second month in April, reach 161.3 bln
EconomyMacroeconomy’ deposit base has not improved in 2014, their reliance on Eurosystem funding has retreated by 11 billion... in May. Lower funding from the ECB is attributed to higher interbank lending and continued... respectively in the past two months. Greek banks should gradually replace the bulk of ECB funding
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Alpha Bank posts loss of 94.1 mln in Q1
EconomyBankingloan NII mainly due to deleveraging offset by lower deposit expense and funding cost. Deposit repricing coupled with lower Eurosytem funding cost is expected to have a positive impact of circa 350... end of the market. Like Eurobank and National, Alpha eliminated its ELA funding in May, while
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IMF report sees a number of risks lying ahead for Greece
EconomyProgrammeof alternative funding have decreased the projected 2020 debt ratio by 1 pp each. Debt sustainability..., there is a funding gap of 12.6 billion in 2015, notably for the seven months after May 2015. The IMF says that the Greek authorities have mobilised alternative resources to meet funding needs
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Alpha Bank reports H1 profits of 267.4 mln on one-off item
EconomyBanking. The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... in deposit spread (by 9 bps) and further reduction in Central Bank funding balances and cost. Going forward... funding fell by 2.5 billion euros QoQ to 13.2 billion corresponding to 14 percent of assets. Note
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Finance Ministry challenges SYRIZA's plans for economy, ups cost
Economybillion. Revenues Another major issue highlighted by the MoF involves the funding of SYRIZA’s measures... that tackling tax evasion requires a long time to bear fruit, while the other funding sources identified by SYRIZA are not realistic. The government argues this would create an imminent funding gap that would
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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgrammeof Emergency Liquidity Assistance (ELA) funding to Greek banks. The initial approval was granted on January 21... bonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB decision back in March 2013. The cash value of ECB funding that has been utilized by Greek banks
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