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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 accelerated in January and may have reached 10-12 billion corresponding to circa 7 percent of the end
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The state of play with Greek banks' liquidity
Economyinflows 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... a total of 7 billion euros in the next two months, of which 2.4 billion are due in February
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Newsletter 14 - 06/02/2015
, this is our understanding of what the policy programme would include: 1. The abolition... scheduled for this year. 7. Two ministers have also announced that a series of privatisation projects..., 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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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...) Allowing the out of court settlement of non-performing loans (NPLs). 7) Adopting a new code of civil
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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... slightly eased by 7 bps over this period. In contrast, the time deposit rate had followed a sharply... percent in the interest rate on loans with fixed maturity for amounts above 1 million euros. The rate
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Greek banks’ loan quality is deteriorating
Economyeuro2day.gr reported that an additional 1 billion euros in NPLs was created in March. If confirmed, this 3... resulted in an improvement of the NPL cash coverage by almost 7 points, bringing it close to 59...’ common equity tier 1 (CET1) ratios stood at adequate levels at the end of 2014, ranging from 12.1
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBanking. Excluding these extraordinary factors, the recurring PPI improved by 7 percent QoQ to 266 million...-offs of 300 million euros in the quarter. The slight rise mainly stems from an almost 1 pp increase... Common Equity Tier 1 (CET1) ratio slipped to 11.9 percent in Q1 from 12.1 percent in Q4 and reflects
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Greece seeks 3-year programme that could exceed 65 bln
EconomyProgrammeuntil the end of 2018 standing at 29.8 billion euros including 1) Payments to the IMF of 9.9 billion... are required for clearing state arrears to the private sector (7 billion) as well as rebuilding buffers... with a positive or negative impact on the gross amount. 1) The preliminary DSA called
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomypercent in June to 575 million well below the previous months’ figures ranging between 0.9 – 1... below the FY target namely: 1) Grants to Manpower Employment Agency (at 21.3 percent of the annual... of the annual target of 1.57 billion) 7) Agricultural subsidies (at 15.8 percent of the FY target of 591
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New time deposit rate fell 12 bps in August to record low of 1.19 pct amid capital controls
EconomyMacroeconomyon total new deposits down 7 bps to 0.71 percent in August, which is the lowest reading in the post... for amounts above 1 million euros soared by 76 bps to 4.70 percent offsetting the cumulative drop... 250,000 and 1 million euros nosedived by 76 bps to 5.07 percent, outweighing the 89 bps rise posted
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