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  1. Greek deposits nosedive by 12.8 bln in Jan as balances reach lowest point since Aug 2005
    Photo by MacroPolis

    EconomyMacroeconomy

    were forced to switch a large part of ECB funding to the Emergency Liquidity Assistance (ELA) scheme. According to banking sources, Eurosystem funding passed the 100-billion mark in February, with 38... statement, which shows Eurosystem funding, for January in early March. February figures are due in mid

    2%

  2. Alpha Bank net losses rise to 440mln in Q4 2014, NPL ratio at 33 pct
    Photo by MacroPolis

    EconomyBanking

    115 percent in Q3. Eurosystem Eurosystem funding rose to 14.8 billion euros at the end of Q4 from... of 2 billion. The February breakdown showed ELA funding at 17.6 billion and ECB funding at 4.8

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  3. As hopes of April 24 deal fade, differences between Greece and lenders remain

    PoliticsGreek Politics

    unlock funding will carry over into May. Although some Greek government officials insist a deal... of at least some of the 7.2 billion euros in remaining bailout funding but the institutions insist... not receiver further bailout funding. There is no clear picture on whether the government can continue

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  4. Tsipras steps in amid concern deal with lenders slipping away
    Photo by MacroPolis

    PoliticsGreek Politics

    that would secure further bailout funding and solve the government’s growing liquidity problem might... the conditions are in place for funding to be released following the next finance ministers’ gathering on May... bailout funding. An Alco opinion poll for Proto Thema newspaper on Sunday indicated that the majority

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  5. Deposit outflows eased to 3.86 bln in May, balance below 130 bln

    EconomyMacroeconomy

    as of February 11 (previously used for ECB funding purposes) resulted in a sharp increase of Greek banks’ ELA funding to 77.6 billion at the end of May from zero at the end of December. Including ECB funding in the form of EFSF bonds of 38.8 billion, Greek banks’ Eurosystem reliance stood at 116.4

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  6. June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years

    EconomyMacroeconomy

    in Greek banks’ Eurosystem funding by 10.17 billion in the same month. More than 90 percent of this monthly increase in Central Bank funding stemmed from Emergency Liquidity Assistance (ELA) funding

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  7. 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

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  8. 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

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  9. 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

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  10. Encouraging signs for Greek banks in Q1 results but NPL management looms large
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    Agora

    stems 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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