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NBG Q2 trading update shows higher pre-provision income, marked improvement in NPL formation
EconomyBankingreflecting: a) the higher reliance on the Emergency Liquidity Assistance (ELA) funding, which comes.... This is almost entirely attributed to a similar change in ELA funding, which rose to 17.6 billion in Q2 from... outflows also led to increased dependence on Eurosystem funding by 4 billion euros to 27.6 billion
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Negative deposit flow of 1.12 bln in Jan
EconomyMacroeconomyreflecting a reduction in the Emergency Liquidity Assistance (ELA) funding by 17.9 billion. In addition, the ECB has lowered the ELA ceiling for Greek banks by a cumulative amount of 19.6 billion euros... not yet provided the evolution of Eurosystem funding for January, which is due in the coming days
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Government faces tight schedule for amendments to bailout legislation
EconomyProgramme(ELA) to ECB funding. Assuming also a reduction in the haircut applied to this collateral, Greek... noting that ELA cost stands 150 bps higher than that of ECB. After the implementation of prior... to reinstate the waiver on Greek government securities for Greek banks’ access to ECB funding subject
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Encouraging signs for Greek banks in Q1 results but NPL management looms large
Agorastems from a further reduction in their reliance on the Emergency Liquidity Assistance (ELA) funding..., the reintroduction of waiver would mean that 5.1 billion euros of liquidity withdrawn via ELA would be replaced by cheaper ECB funding. This would have a positive impact on banks’ NII of 76 million
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Deposits edge up to 124.8 bln in Nov on marginal inflows of 12 mln
EconomyMacroeconomy. The monthly change stems from a decline in both the ECB and the Emergency Liquidity Assistance (ELA... of the waiver on Greek government securities, the lower haircut applied on ELA collateral, increased interbank... of November. BoG data published on December 13 displayed Greek banks’ Eurosystem funding dropped
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Piraeus Bank posts net profit of 94 mln in Q3 and 40 mln in 9M
EconomyBankingon Emergency Liquidity Assistance (ELA) being completely eliminated. The net interest margin (ΝΙΜ) in Q3... (ELA) was completely eliminated during Q3. Interbank repos came to 2.2 billion in September from 3.3... will gradually have a positive result on the cost of risk for Piraeus Bank. Balance Sheet Eurosystem funding
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Greek primary cash surplus widens to 3.2 bln in 7-month
EconomyMacroeconomyto the Emergency Liquidity Assistance (ELA) to zero since June from 9.79 billion in December. This development follows Greek bank’s zero reliance on ELA funding as of May. b) A decline in bank support scheme... repos to cover short-term funding gaps. The year to date movement in long-term loans mainly
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Greek primary cash surplus more than doubles to 2.45 bln at end of August
EconomyMacroeconomyto the Emergency Liquidity Assistance (ELA) to zero in June, from 9.79 billion in December. This development follows Greek banks’ zero reliance on ELA funding as of May. b) A decline in bank support scheme... to cover short-term funding gaps. The year to date change in the long-term loans mainly stems from
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Greek primary cash surplus up to 3.1 bln in September but state arrears also rise
EconomyMacroeconomybanks’ zero reliance on ELA funding as of May. b) A reduction in the bank support scheme guarantees... significant YtD changes relate to: a) The elimination of the Emergency Liquidity Assistance (ELA... and reflect intra-government funding related to cash reserves of the gg bodies for which the Public
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Troika and Greece in stalemate over budget targets, prior actions as time ticks away
EconomyProgrammeat the beginning of next year, Greek banks may not have access to ECB funding but resort only to Emergency Liquidity Assistance (ELA). Greek banks have eliminated the more expensive ELA funding since last May
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