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NPLs
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EconomyBanking
Hercules NPL reduction scheme receives first application from Eurobank The Greek government’s Hercules scheme for reducing bad loans on the books of the country’s four systemic banks received its first application on Tuesday from Eurobank.
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EconomyBanking
Ministry urges borrowers to apply for home protection before scheme expires In an effort led by Finance Minister Christos Staikouras, the government is intensifying efforts to have as many borrowers covered before the current primary residence protection scheme expires on April 30.
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PoliticsGreek Politics
Uproar over minister's home protection comments underscore sensitive nature of challenge With the fraught issue of home repossessions threatening to come to a head in the spring, recent statements by Development Minister Adonis Georgiadis have been attracting furious responses from across the opposition.
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EconomyBanking
Greek banks eye positive market appetite for bad loan sales Ahead of the EU’s stress tests and improving sentiment, Greece’s banks have begun making further inroads into their plans for reducing bad loans on their books.
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Economy
Deadline looms for troubled home protection scheme as insolvency law is lined up The sensitive issue of protecting primary residences from foreclosures, which over the last decade was dealt with by the so-called Katseli law that was introduced very early in the crisis and then extended by subsequent administrations, is starting to move up the agenda of key stakeholders.
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PoliticsGreek Politics
Pension bill to be unveiled as govt prepared for fifth post-MoU review Following a week when foreign policy dominated the political agenda in Greece, the government’s attention turns to the more mundane matters of the fifth enhanced surveillance review and pension reform in the coming days.
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EconomyBanking
Alpha Bank launches major securitisation as banks ready portfolios for Hercules scheme Alpha Bank announced that it has started the process to execute one of the largest bad loan securitisations by a Greek bank.
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EconomyBanking
Q3 sees loans managed by servicers rise by 10.8 pct QoQ to reach 20.11 bln The Bank of Greece (BoG) released a new quarterly bulletin last week detailing statistics regarding the operations of Credit Servicing Firms (CSFs).
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EconomyBanking
APS bill tabled, allowing use of 12 bln in state guarantees to reduce NPLs Greece’s much-anticipated Asset Protection Scheme (APS), nicknamed Hercules, that aims to help banks clean up their balance sheets is a few steps away from coming into effect after the Finance Ministry submitted the draft law to Parliament on Tuesday under the emergency procedure.
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EconomyBanking BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line In the financial stability report it issued last week, the Bank of Greece (BoG) emphasised the need for banks to reduce significantly the stock of non-performing exposures (NPE) and improve the composition of their capital base, 60 percent of which consists of deferred tax credits (DTC) and inhibits the systemic credit institutions.