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Piraeus Bank posts net loss of 1.56 bln in Q3
EconomyBankingthat the new time deposit rate stands at 180 bps in November suggesting further funding cost... of the targeted cost synergies and 100 percent of funding synergies related to the acquisition of 5 banks... percent in Q3 from 107.9 percent in Q2. Eurosystem funding remained flat QoQ for the second successive
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Greek deposits down 0.2 pct in October after seven months of rises
EconomyMacroeconomycut their Eurosystem funding by 26 billion euros in the year to date. Lower reliance on central bank funding followed the capital raising of 8.3 billion by the four systemic banks. It also reflects the replacement of ECB funding by interbank lending mainly via EFSF bonds, ongoing loan deleveraging
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The one question SYRIZA needs to answer
Agorafor Greece's funding over the period and until negotiations with Greece's creditors are settled. Being so... sizable funding hump that will need to be addressed irrespective of who is in power. Based... obligations in a very tight financing space. The funding cushion of borrowing from the cash reserves
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Voting for brinkmanship while the real economy needs solutions
Agoracreditworthiness will quickly create funding gaps for the Greek state. The default option to subsequently... quality continues to be. In September of this year, the tailwind provided by lower funding costs... in Greece? This special purpose-funding vehicle is an example of sustainable financial innovation
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After rocky start, some political backing for SYRIZA but ECB holds key
PoliticsGreek Politicsending on February 28, there is a danger that Greek banks could no longer eligible for ECB funding... have turned to the ECB’s Emergency Liquidity Assistance (ELA) for funding. The ECB’s governing... weeks to roll over existing short-term debt but also covering funding needs, given that Varoufakis has
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Greek deposits nosedive by 12.8 bln in Jan as balances reach lowest point since Aug 2005
EconomyMacroeconomywere 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
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Greece hopes to catch break from ECB as IMF puts its foot down
PoliticsGreek Politicsby the Greek government as the only way for it to cover its funding needs (including a payment... a deal on the remaining measures in order to unlock the 7.2 billion euros in bailout funding that has... will not approve the release of the IMF’s 3.5-billion-euro share of the current bailout funding. However
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBankingjumped close to 120 percent in Q1 from 101 percent in Q4. Eurosystem Eurosystem funding climbed from... billion in mid-May. The breakdown of the most updated figure includes ECB funding of 15.1 billion, mostly due to EFSF bonds of 14.4 billion and ELA funding of 18.1 billion. The latter is almost equally
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Deposit outflows eased to 3.86 bln in May, balance below 130 bln
EconomyMacroeconomyas 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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June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years
EconomyMacroeconomyin 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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