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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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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingas Common Equity Tier 1 (CET1) capital (“pari passu” with common shares) but they are an expensive capital support instrument bearing an annual coupon of 8 percent, which in NBG case means an interest... Tier 1 (CET1) capital of 6 billion and CEt1 ratio of 9.5 percent. The announced capital actions plus
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Stock market slips 1.4 pct dragged by huge bank losses
Economy-tranche of 1 billion. The General Index of the Athens Stock Exchange landed at 649.79 on Friday, which... were recorded by: Aegean Airlines (+8 percent), Grivalia (+6.1 percent), Athens Water – EYDAP (+4.4... until December 1 to facilitate the reverse split process, while the resulting shares will resume
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Weak banks drag Greek stocks down by 6.5 pct during week
Economyof milestones by December 11 to unlock the next sub-tranche of 1 billion euros. In the meantime... completed, while Piraeus also received the state aid of 2.7 billion on December 1. The Athens Stock Exchange... trading on December 8.
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The agenda of the first programme review shapes up with thorny issues
EconomyProgrammeFollowing the disbursement of the second sub-tranche of 1 billion on December 23, the next... of the first review. Local media indicate that discussions will officially kick off on January 8, while..., the government has pledged in the third memorandum of understanding (MoU) for cost savings of around 1
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Greek pensions: The unsolvable equation
AgoraLast July the conditionality of Greece’s third programme included savings of 1 percent of GDP from... at the end of 2013, took roughly 1 million people out of labour force. The latest figure as of October 2015... transfers for social security, excluding state pensions, to 13.9 billion euros, or around 8 percent
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Piraeus first Greek bank to repay Pillar II bonds, others to follow
EconomyBankingand III bonds at 15 and 8 billion respectively. The ceiling of Pillar II bonds was later extended up... 1 billion. In addition, Pillar III bonds were only held by NBG for a cash amount of 1.2 billion... basis points above that for ECB funding), while the fees paid to the Greek state exceed 1 percent
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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.... Eurosystem funding markedly fell by almost 8 billion QoQ to 14.9 billion at the end of Q2... from 92 percent in the previous quarter remaining the lowest among core banks. The Common Equity Tier 1
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