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  1. Discontent in SYRIZA simmers as Tsipras seeks to conclude talks with creditors
    Photo by MacroPolis

    PoliticsGreek Politics

    to the final agreement with the quadriga is minimal, Tsipras’s tools for maintaining cohesion within his party

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  2. Greek banks set for early ELA return in apparent precautionary move
    Bank of Greece

    Economy

    to the pillar II of a government liquidity support scheme launched in November 2008. The initial... billion) relates to pillar II bonds, while the largest part of the remaining is with EFSF bonds. Note.... In addition, the pillar II bonds, which were recently prolonged by the EC until the end of June

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  3. Greece sets out broad reform plan for lenders' approval

    EconomyProgramme

    and statics 4) Humanitarian crisis, which mainly relates to the first pillar of SYRIZA Thessaloniki... with Eurostat. Humanitarian crisis This commitment involves the first pillar of the Thessaloniki... pillar programme stood at 1.86 billion, implying that this has to be counterbalanced by incremental

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  4. Greek Eurosystem funding up by 2.9 bln in March, reaches total of 107.1 bln

    EconomyMacroeconomy

    primarily involves pillar II bonds (at 47 billion at the end of February) as well as pillar II bonds, T... though that such a decision will not have any impact on pillar II bonds, which would continue being non

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  5. Eurobank posts loss of 94.4 mln in Q1 as NPLs, Eurosystem funding rise
    Photo by MacroPolis

    EconomyMacroeconomy

    funding and government guarantees’ (pillar II) cost. The bank said the bulk of the NII... showed it contains pillar II bonds of 13.7 billion, credit claims of 8.7 billion, pillar III bonds, T

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  6. Referendum and the ECB to determine the future of Greek banks
    Photo by MacroPolis

    Economy

    indicate that the currently applied haircuts stand at around 20 percent for bank bonds with pillar... for Greek government bonds (GGBs) and less than 10 percent for T-Bills. Pillar II bonds made up 45... is equally split between state guaranteed securities (pillar II and III guarantees, GGBs and T-Bills

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  7. National Bank reveals capital plan, which includes sale of whole Finansbank stake
    Photo by MacroPolis

    EconomyBanking

    capital needs of 4.6 billion. The first pillar involves an equity offering without pre-emptive rights... a resolution. The second pillar relates to a Liability Management Exercise (LME) involving a voluntary exchange... to raise capital up to 0.8 billion for the LME. The last key pillar involves the sale of 100 percent of its

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  8. Encouraging signs for Greek banks in Q1 results but NPL management looms large
    Photo via Flickr https://flic.kr/p/4hVnhM

    Agora

    on an annual basis. Greek banks also reduced the pledged pillar II bonds by 5.4 billion euros... points (bps) to the state on the nominal value of the pledged pillar II bonds. Banks aim to further reduce their pillar II bonds in the coming quarters, with Piraeus having already eliminated its

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  9. Alpha Bank reports net losses of 16.8 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    on ELA funding and reduced usage of pillar II bonds, was offset by lower loan NII. The latter reflects... Eurosystem cash buffer rose to 4.3 billion in August from 3.1 billion in March. Pillar II bonds.... The annual benefit from the repayment of pillar II bonds is estimated at 48 million. The ongoing

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  10. Eurobank remains profitable with net profits of 46.2 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    on ELA and pillar II bonds more than offsetting lower loan NII. Net interest margin (NIM) improved... that the burden on NII and fees from pillar II bonds stood at 12 and 10 million respectively in Q2... that reached 6.7 billion in August from around 5 billion in March. In addition, pillar II bonds (nominal

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