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National Bank posts losses of 159 mln in Q1 2015
EconomyBankingis attributed to higher Emergency Liquidity Assistance (ELA) funding cost. The Greek deposit spread... at 95 percent, both remaining the best among its domestic peers. Eurosystem Eurosystem funding.... The latter is made up by ECB funding of 9.8 billion (primarily EFSF bonds) and ELA funding of 15.6 billion
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Deposit inflows of 2.65 bln in Dec, highest positive flow since Feb 2013
EconomyMacroeconomythis period. Meanwhile, Greek banks’ Eurosystem funding declined for the sixth straight month by 5.89... Liquidity Assistance (ELA) funding by 8.57 billion partly offset by a rise in ECB funding by 2.68 billion in December. The aggregate figures since July show that Eurosystem funding has been trimmed
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Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
EconomyBankingreflects lower funding cost with the Greek deposit spread improving by 17 basis points (bps) QoQ... funding fell by more than 6 billion QoQ to 25.3 billion at the end of December and further to 24.3 billion at the end of February. In particular, the Emergency Liquidity Assistance (ELA) funding slipped
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Deposit outflows for second straight month in February, at 548 mln
EconomyMacroeconomy’ reliance on Eurosystem funding fell by 1.86 billion euros to 104.23 billion in February. The monthly change reflects a fall in the Emergency Liquidity Assistance (ELA) funding by 0.85 billion to almost 68 billion, while ECB funding eased by 1 billion to 36.34 billion. Since July, central bank funding
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Marginal deposit inflows of 55 mln in March
EconomyMacroeconomygovernment (2.28 billion). Meanwhile, Greek banks’ reliance on Eurosystem funding fell by 2.78 billion... Assistance (ELA) funding by 1.79 billion to 66.19 billion and a slower drop in ECB funding by almost 1 billion to 35.25 billion. Since July, Central Bank funding has dropped by 25.13 billion euros, primarily
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Piraeus first Greek bank to repay Pillar II bonds, others to follow
EconomyBankingfor funding purposes. Since March 2015, those bonds can only be used for Emergency Liquidity Assistance (ELA) funding. Under the third pillar, the state had issued special bonds purchased by banks..., Pillar II bonds, which are used for ELA funding, bear a nominal interest rate of 1.55 percent (150
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Net profit of 87 mln for NBG in Q1
EconomyBanking, largely on the back of lower reliance on the Emergency Liquidity Assistance (ELA) funding and time... for funding. Operating expenses fell 7 percent QoQ and 2.2 percent year on year (YoY) to 309 million.... On the liquidity front, Eurosystem funding dropped by 1.2 billion QoQ to 22.8 billion in Q1 and further by another
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ECB holds off on reinstating Greek waiver, waits for completion of prior actions
Economyare eligible for Eurosystem funding collateral This means, the total nominal amount of Greek... funding stands at 9.3 billion euros. Based on the currently applied haircut of around 45 percent... funding cost stands 150 basis points above that of ECB funding, meaning that Greek banks could benefit
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Piraeus Bank’s bottom line turns profitable with 20 mln net profits in Q2
EconomyBankingwith the NPE cash coverage ratio at 47 percent. Eurosystem funding declined by 3.6 billion euros QoQ..., increased repos and deposit inflows. In specific, the Emergency Liquidity Assistance (ELA) funding dropped by 2.6 billion since March to 13.5 billion, while ECB funding fell by 2.9 billion to 11.5 billion
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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBanking, mostly reflecting lower Eurosystem and wholesale funding cost that more than offset reduced loan... funding fell by 2.3 billion QoQ to 12.6 billion in Q3 and further by another 1.3 billion in November and currently stands at 11.3 billion. The Emergency Liquidity Assistance (ELA) funding dropped from
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