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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake... place in Eurobank on February 1, when Nick Karamouzis was named new non-executive chairman... told Reuters on February 8 that “he and the banks’ chairman George Zanias plan to step down in the next
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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... system to speed up the dispensation of justice. 8) Improving the credibility and institutional
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Deposit rates stable, avg loan rate below 5 pct for first time since 2002
EconomyMacroeconomyThe interest rate on households’ new time deposits marginally increased by 1 basis point (bp... percent in the interest rate on loans with fixed maturity for amounts above 1 million euros. The rate... rate further fell by 8 bps in February to 2.36 percent, which is the lowest reading since 2002
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IMF sees Greek growth at 2.5 pct in 2015, debt at 172.7 pct of GDP
Economyunemployment rate by 1 percentage point to 24.8 percent in 2015, with the jobless rate expected to fall... by around 8–10 pp each year, ending at 124.2 percent in 2020. Although the Finance Ministry recently.... The IMF revised upward its estimates on the overall fiscal balance by more than 1 pp for 2015 and 2016
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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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Finance Ministry wavers as revenues remain at the forefront
EconomyProgrammereached 245 million euros by May 8. The ministry aims to collect an additional 417 million by the end..., local media report that the fiscal gap is seen at around 2 billion by the institutions and below 1... said that additional VAT revenues should reach 1 percent of GDP, corresponding to 1.8 billion euros
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Newsletter 35 - 17/07/2015
of this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion); 2... fell below the 1 billion mark by the end of May. The commission anticipates that the new programme..., the clearing of arrears 8 percent and state deposit build-up 5 percent. The commission highlights
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ELA funding up by 9.2 bln in June, banknotes in circulation reach all-time high
EconomyMacroeconomybillion, which is the highest reading since December 2012. ECB funding rose by almost 1 billion to 39.8... General Council for this period and reflects the extended deposits of more than 8 billion in that month... currently from zero last December 2014 stems from: 1) Extended deposit withdrawals of around 48 billion
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A breakdown of the funding needs involved in Greece's third bailout
EconomyProgrammeof this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion) 2... financing since August 2014, state deposits fell below the 1 billion mark by the end of May... 28 percent, interest payments 20 percent, the clearing of arrears 8 percent and state deposit build
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Sharp increase for Greek bank provisions in Q2 due to capital shortfall highlighted by ECB
EconomyBankingto 67 percent in Q3 from 63 percent in Q1. On the capital front, the Common Equity Tier 1 (CET1) ratio... more than offsetting the lower time deposit cost. Gross loans slipped 1 percent QoQ to 73.28 billion euros in Q2, whilst deposits contracted by 8 percent to 55.68 billion bringing the L/D ratio to 112
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