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  1. Eurobank posts loss of 523.7 mln in Q4 2014
    Photo by MacroPolis

    EconomyBanking

    international activities. Eurosystem funding rose to 12.5 billion in Q4, while jumped to 29 billion by February... outflows of 5 billion and lack of marker repos renewals of 9.1 billion. ELA funding reached 19.5 billion in February making up two-thirds of total Eurosystem funding. The bank also disclosed it has ELA

    2%

  2. National Bank posts net loss of 1.1 bln in Q4
    Photo by MacroPolis

    EconomyBanking

    . As already evident in the results of the other three Greek banks, NBG’s Eurosystem funding rose... is made up by ECB funding of 9.7 billion (primarily EFSF bonds) and ELA funding of 13.3 billion. The bank noted it has a liquidity buffer of around 15 billion mostly for ELA funding with 44 percent of ELA

    2%

  3. Deposit outflow rises to 4.7 bln in April as balances drop to lowest since Sept 2004
    Photo by MacroPolis

    EconomyMacroeconomy

    of Greek banks’ Eurosystem funding to 112.84 billion at the end of April, up by 68 billion on the end-November figure of 44.85 billion. Two-thirds of Central Bank funding relate to ELA funding (74.4 billion) and the remaining one-third to ECB funding (38.5 billion) almost entirely comprised by EFSF

    2%

  4. Deposit flow turns negative with outflows of 681 mln in Oct

    EconomyMacroeconomy

    . At the same time, Greek banks’ Eurosystem funding fell for the fourth straight month by 2 billion euros to 119.38 billion at the end of October. As a result, Central Bank funding has dropped... Liquidity Assistance (ELA) funding by 4 billion to 82.79 billion, while ECB funding declined by 3.2

    2%

  5. NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
    Photo by MacroPolis

    EconomyBanking

    cash coverage ratio at 53 percent. Eurosystem funding dropped by 1.6 billion euros QoQ to 24 billion in Q4 and further to 23.4 billion on March 10. The current figure incorporates ECB funding of 12.5 billion and Emergency Liquidity Assistance (ELA) funding of 10.9 billion. The cash value

    2%

  6. NBG completes sale of Finansbank to Qatar National Bank
    Photo by MacroPolis

    EconomyBanking

    bonds, reducing accordingly its reliance on the Emergency Liquidity Assistance (ELA) funding and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros in May implying the nominal value stood close to 3 billion. The ELA funding cost stands 150 basis

    2%

  7. Deposit inflows of 1.07 bln in June, highest in first half of 2016

    EconomyMacroeconomy

    . Meanwhile, the reliance of Greek banks on Eurosystem funding notably dropped by 8.57 billion euros to 87.14 billion in June, reflecting of a sharp fall in ELA funding by 10.44 billion, while ECB funding rose by 1.87 billion. The reduced central bank funding in June mainly results from

    2%

  8. S&P raises core Greek banks’ ratings, with a stable outlook

    Economy

    . In addition, their funding positions will remain highly unbalance resulting in continued reliance on Eurosystem funding to cover their liquidity needs, S&P stresses. A rating upgrade would require... that would result in lower reliance on ECB funding, return to profitability and asset quality

    2%

  9. One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
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    EconomyBanking

    percent QoQ to 482 million largely driven by lower funding cost due to reduced Emergency Liquidity Assistance (ELA) funding as well as lower deposit cost. Fee and insurance income rose by 4 and 30.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2

    2%

  10. Deposits grow by 1.3 bln in August, highest inflow in 2016

    EconomyMacroeconomy

    on Eurosystem funding fell further by 4.39 billion to 78.46 billion at the end of August. The monthly movement reflects a decline in the Emergency Liquidity Assistance (ELA) and ECB funding by 2.55 and 1.83 billion respectively. Overall, Central Bank funding has dropped by 17.26 billion over the last three

    2%