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Newsletter 15 - 13/02/2015
of availability and cost remains one of the most crucial issues. On the state front, the preliminary... at the end of December, equally split between ECB and ELA funding. The cost of ELA is 1.55 percent, 150 bps... to an incremental cost of 600 million for Greek banks on an annual basis, which rises near to 1
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Capital controls in Greece? A response to Professor Sinn
Agoraa capital controls regime for Greece, since the cost of a funded capital controls regime is lower than... system imposing a minimal cost to the creditors as compared to the potential negative consequences... writes, the Cyprus bailout cost is not 10 billion but less than 9, as one billion set aside
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Greece sends reform list to creditors, here's an outline of what it's likely to contain
PoliticsGreek Politicsthe humanitarian crisis. The cost of those measures was initially estimated by SYRIZA at 1.86 billion and relate to the following initiatives: · Subsidized meals for 300,000 poor families (estimated cost... home (estimated cost at 2 billion euros). The Alternate Finance Minister Nadia Valavani recently
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammethe zero-deficit clause for auxiliary pensions (cost of 326 million), reintroduce the 13th pension for pensioners below the poverty limit (cost of 600 million) and retain the current conditions for pensioners who receive the Social Solidarity Allowance (EKAS) (cost of 82 million) with a total negative
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBankingEmergency Liquidity Assistance (ELA) cost partly offset by the positive impact from the time deposit... ELA cost burdened Q1 NII for two months, thus its impact on Q2 is seen at higher levels. Operating...) to 278 million with the cost of risk falling well below the 2-percent mark to 1.54 percent in Q1 from
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Alpha Bank reports lower losses of 115.8 mln in Q1 2015
EconomyBankingto higher Emergency Liquidity Assistance (ELA) funding cost that burdened NII by 33 million. This higher cost will be fully phased-in in Q2, since its burden was only for half of Q1 (since mid-February). Total ELA funding cost stands at 200 basis points (bps) compared to just 5 bps for ECB funding
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economydeposit cost, attributed to decreased time deposit rates, leading net interest income (NII) down 4... deposit cost and higher lending spreads. The time deposit cost significantly fell in Q3, with the time
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Greek households most overburdened with housing costs in EU
Societythan 40 percent of total disposable household income, Greece has by far the highest housing cost...), the Netherlands (15.4 percent) and Romania (14.9 percent) in terms of the housing cost overburden rate... the lowest housing cost overburden rates. The data also found that most Greeks (56.9 percent) live
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Multi-bill tabled in Parliament, paves way for sale of NPLs
EconomyProgrammein position allowances. The total annual cost of these changes is estimated at around 300 million..., the relevant cost ceiling is set at 570 million euros for 2016 and will be lowered by 20 million per annum for 2017 and 2018. The GAO report notes that the total amount of cost saving is projected at 137 million
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Gov't postpones discussion on parallel programme ahead of tranche approval
Economyprocess, while it added that the total cost is “extremely low at around 100 million”. The only...’ objections was that most interventions were not cost-quantified. In specific, the accompanying General Accounting Office (GAO) report indicated the cost impact of just a few measures, such as the widening
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