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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgrammebonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB... and sight recorded inflows of around 1 billion each. However, banking sources stress that outflows...- and 6-month T-Bills worth 2.4 billion, which are due on February 4 and 11 respectively. Foreign investors
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The state of play with Greek banks' liquidity
EconomyThe ECB is expected to decide on Wednesday, February 4, on the extension for another 2 weeks... inflows of 1 billion each in December. Banking sources indicate that withdrawals accelerated... to the non-eligibility of a particular type of ECB funding collateral as of March 1. This stems
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Greek time deposit rate falls to 1.82 pct in Dec, lowest during euro membership
EconomyMacroeconomyin the time deposit rate resulted in a slight reduction in the average rate on new deposits by 4 bps... maturity for amounts above 1 million euros. A similar drop was also evident in November. As a result... 250,000 and 1 million euros). In the household lending segment, the housing loan rate reversed
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Newsletter 14 - 06/02/2015
, this is our understanding of what the policy programme would include: 1. The abolition... citizens (350 million). 4. Settlement of individual and corporate bad loans. Local media indicate..., Varoufakis has gone as far as suggesting that Greece’s primary surpluses should be 1 to 1.5 percent of GDP
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Greek banks' Eurosystem funding jumps to 87.4 bln in Jan, ELA at 5.2 bln
EconomyMacroeconomygovernment-guaranteed bank bonds would not qualify for ECB funding eligibility as of March 1, 2015... in November 2008. On February 4, the ECB announced that securities issued or guaranteed by the Greek... bonds (that would previously be non ECB eligible as of March 1) as well as pillar III bonds, Greek
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Newsletter 19 - 13/03/2015
. On the current level of ELA funding of 65.6 billion, this translates to almost 1 billion higher interest... not qualify for ECB eligibility as of 1 March 2015. Thus, if the ECB eases its stance, then Greek banks could replace only a part of their ELA with ECB funding. This relates to pillar III bonds (4–6 billion
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Greece sees lower primary surplus at 0.3 pct for 2014, fiscal challenges remain
EconomyProgrammerules: 1) SMP and ANFA income are included in budget but excluded from EAP. This means that 2.42..., there is a number of issues that need to be clarified regarding the MoF announcement: 1) Whether the three...) In the 2015 budget there were 4 adjustments needed for the reconciliation of ESA-2010 figure
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National Bank posts net loss of 1.1 bln in Q4
EconomyBankingratio for the whole year landed at lower levels (56.3 percent) suggesting an improvement by 4 pps year... ratio at 45 percent. Gross loans rose by almost 1 percent QoQ and 2.7 percent YoY to 72.1 billion... eligible collaterals in the form of pillar II bonds. The bank’s Basel III Common Equity Tier 1 (CET1
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammefiscal impact of around 1 billion. Privatisations We believe the Finance Ministry has revised... to submit eight bills introducing structural reforms in the following areas: 1) Strengthening the autonomy... the sustainability of the pension system. 3) Modernising the income tax code and eliminating exemptions. 4
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Eurobank posts loss of 94.4 mln in Q1 as NPLs, Eurosystem funding rise
EconomyMacroeconomyliquidity buffer of 8 billion in Greece and 4 billion in its international operations. However... by 2.5 billion. Gross loans rebounded by 1 billion QoQ to 52.9 billion in Q1, yet this mostly.... The bank’s phased-in Common Equity Tier I (CET1) ratio further eased by 1 pp QoQ to 14.2 percent
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