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Bond issued for capital support of Greek banks in 2009 reaches maturity
Economy, which banks would use for liquidity purposes. The amount for the liquidity pillar was later increased... in cash on July 18, 2011. The issue of what would happen to the pillar bond was the focus last October... million on May 21, the same day the pillar bond was due to expire. Piraeus's move is facilitated
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What are the implications of the ECB's decision for Greek banks?
Economy, state-guaranteed bank bonds (pillar II) would not be ECB-eligible as of March 1. The cash value of those... are pillar III bonds, Greek government bonds (GGB) and T-Bills. For the first two categories, the total amount is less than 10 billion, around 4-5 billion for pillar III and close to 5 billion for GGBs. Until
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Greece prepares set of proposals for bridging deal with eurozone
PoliticsGreek Politics. The first pillar of either agreement, involves pledges for implementation of 70 percent of structural.... The second pillar relates to a downward adjustment of the primary surplus targets from the 3 percent.... The third pillar is based on a debt relief plan, most likely in the form of debt swaps. According
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Eurobank posts loss of 523.7 mln in Q4 2014
EconomyBankinglegible collateral with a cash value of around 30 billion. Of that amount, almost half relate to pillar II bonds, 9.2 billion to credit claims, 3 billion to pillar III bonds, T-Bills and Greek government... securities, Eurobank could replace ELA with ECB funding for the 3 billion related to pillar III
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What higher ECB haircuts on collateral could mean for Greek banks' liquidity
Economyof around 10 percent for T-Bills, to 20-30 percent for pillar II and III bonds, and up to 50-55 percent for loans (less than 60 days past due) and GGBs. The bulk of collateral is in the form of pillar... banks have so far used pillar II bonds with a nominal value of more than 45 billion euros, while
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What the ECB's latest decision on ELA and collateral haircuts means for Greek banks
Economyguarantees (pillar II and III), Greek government bonds (GGBs), T-Bills, covered bonds, securitizations... percent, on covered bonds close to 30 percent, on pillar II and III bonds slightly below 20 percent and on T-Bills at a high-single-digit figure. Pillar II bonds and loans made up around three quartets
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingon NII of around 340 million in 2016, assuming elimination of pillar II bonds, reinstatement... billion to ELA. The breakdown of the latter shows credit claims of 6.3 billion, pillar II bonds of 3.8... and pillar III bonds stand at 1.2 billion each. The management estimates elimination of pillar II
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Net profit of 87 mln for NBG in Q1
EconomyBanking) rose 21 percent quarter on quarter (QoQ), mainly reflecting lower costs related to pillar II bonds... pillar II costs, fees fell 3 percent QoQ to 73 million euros, while fee expenses related to pillar II... at 27.1 billion euros in May entailing undrawn liquidity of 6.4 billion. It is worth noting that pillar
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NBG completes sale of Finansbank to Qatar National Bank
EconomyBanking. NBG also aims to use the liquidity generated from the transaction through non-renewal of pillar II... and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros... points above that of ECB funding, while a fee of 115 bps on the nominal value of pillar II bonds
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingmillion, mainly reflecting lower costs related to pillar II bonds. Net interest income (NII) edged up 1... associated with pillar II bonds. The bank’s non-core income though, despite a one-off gain of 35... billion repo-placed with the market over the past five months, while has eliminated pillar II bonds
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