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EconomyMacroeconomy
Greek deposits increase for seventh straight month, reaching 164 bln Greek private sector deposits increased for the seventh successive month by 0.3 percent month on month (MoM) in September, with balances reaching 164.75 billion euros, according to the Bank of Greece (BoG).
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EconomyMacroeconomy
Greek credit contracts by another 3.5 pct in Sept as balances ease to 212 bln The rate of Greek credit contraction remained at 3.5 percent in September, unchanged from the previous month, according to the Bank of Greece (BoG).
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Economy
ECB tests find negligible capital shortfalls at Greek banks The European Central Bank (ECB) published on Sunday the much anticipated results of its comprehensive assessment on the financial health of 130 banks in the euro area, with just one Greek lender (Eurobank) appearing to have a capital shortfall and even in that case it being less than 18 million euros.
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Economy
ECB stress tests and what they will mean for Greek banks The European Central Bank (ECB) is due to release the results of its comprehensive assessment of the financial health of 130 banks in the euro area at noon (CET) on Sunday. In the two weeks that follow banks will have to submit their capital plans, detailing how capital shortfalls will be covered in the next 6-9 months.
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Economy
ECB set to provide extra liquidity to Greek banks but capital needs remain an issue In its latest comment on Greek banks, Fitch noted that they remain burdened by a large stock of non-performing loans (NPLs), despite capital enhancement and progress with their restructuring plans.
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Economy
Greece changes banks' DTA conversion law to secure ECB/EBA approval Τhe Finance Ministry (MoF) tabled on Wednesday night an amendment to the legal framework which allows the conversion of the deferred tax asset (DTA) to a tax credit (DTC), following a relevant request by the European Banking Authority (EBA).
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EconomyMacroeconomy
Greek banks see Eurosystem funding drop to lowest level since 2009 in September Greek banks’ Eurosystem funding dropped by another 2 billion euros in September, reaching 42.57 billion according to the Bank of Greece's (BoG) monthly financial statement.
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Economy
ECB plans for ABS, covered bonds purchases leaves doubts for Greek banks The European Central Bank (ECB) President Mario Draghi confirmed in a press conference on Thursday that assset-backed Securities (ABSs) and covered bonds from Greece and Cyprus, which until now have not been eligible as collateral with the Frankfurt-based lender, will now be "subject to specific rules with risk-mitigating measures.”
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Economy
A snapshot of Greek banks' ABS as ECB readies for next move The European Central Bank (ECB) announced on September 4 that it will proceed with a large-scale purchase of asset-backed securities (ABS) as well as euro-denominated covered bonds issued by eurozone banks starting from October.
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EconomyMacroeconomy
Greek time deposit rates fall further in August The interest rate on households’ new time deposits dropped by a further 15 basis points (bps) to 2.13 percent in August, according to the Bank of Greece (BoG).