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Greek banks' Eurosystem funding jumps to 87.4 bln in Jan, ELA at 5.2 bln
EconomyMacroeconomyof interbank renewal. c) Utilisation of additional pillar II state-guaranteed bonds for ECB funding... pillar II guarantees with a cash value of 21 billion at the end of September. This amount.... These collaterals relate to pillar II bonds of a government liquidity support scheme initially launched
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What higher ECB haircuts on collateral could mean for Greek banks' liquidity
Economyof around 10 percent for T-Bills, to 20-30 percent for pillar II and III bonds, and up to 50-55... II bonds and loans. Our understanding is that the weighted average haircut currently stands north... banks have so far used pillar II bonds with a nominal value of more than 45 billion euros, while
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Referendum and the ECB to determine the future of Greek banks
EconomyII and III state guarantees, close to 50 percent for loans, 30 percent for covered bonds, 50 percent 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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What the ECB's latest decision on ELA and collateral haircuts means for Greek banks
Economyguarantees (pillar II and III), Greek government bonds (GGBs), T-Bills, covered bonds, securitizations... percent, on covered bonds close to 30 percent, on pillar II and III bonds slightly below 20 percent and on T-Bills at a high-single-digit figure. Pillar II bonds and loans made up around three quartets
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Net profit of 87 mln for NBG in Q1
EconomyBanking) rose 21 percent quarter on quarter (QoQ), mainly reflecting lower costs related to pillar II bonds... pillar II costs, fees fell 3 percent QoQ to 73 million euros, while fee expenses related to pillar II... II bonds (nominal value) were sharply reduced from their peak of 16 billion in Q3 2015 to 3 billion
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NBG completes sale of Finansbank to Qatar National Bank
EconomyBanking. NBG also aims to use the liquidity generated from the transaction through non-renewal of pillar II... and the associated funding cost. The cash value of the pledged pillar II bonds stood at 1.5 billion euros... points above that of ECB funding, while a fee of 115 bps on the nominal value of pillar II bonds
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingmillion, mainly reflecting lower costs related to pillar II bonds. Net interest income (NII) edged up 1... associated with pillar II bonds. The bank’s non-core income though, despite a one-off gain of 35... billion repo-placed with the market over the past five months, while has eliminated pillar II bonds
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Signs of optimism in Greek banks' Q2 results but NPL challenge lies ahead
Agoraof pillar II bonds. The cash value of the latter more than halved to 4.9 billion euros recently from 10 billion three months ago. In specific, Piraeus and NBG have eliminated their exposure in pillar II... the repayment of pillar II bonds would reach 48 million, the pillar II burden on Eurobank Q2 results
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Eurobank net profit at 61.2 mln in Q3, NPE formation negative for fourth straight quarter
EconomyBankingat 369.3 million. This was mainly due to lower Eurosystem funding and Pillar II utilisation. On an annual... II bonds were eliminated, while interbank repos stood at 3.8 billion euros in November, the lowest... and the issuance of Tier II bonds, in favour of the Greek state, which count in the total regulatory capital
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Greek banks set for early ELA return in apparent precautionary move
Economyto 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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