Bank of Greece (BoG)

Governor of Bank of Greece Calls for Swift Conclusion of Bailout Review

The Greek government and foreign lenders must intensify efforts to swiftly conclude a review of the country's compliance with fiscal targets and reforms under its current bailout, governor of Greece's central bank Yiannis Stournaras said. Inspectors from the country's creditors,...

Piraeus Bank to Respond to Reported Regulatory Violations Found in Audit

Piraeus Bank said it will respond to a draft report from a Bank of Greece audit that found regulatory violations in the 2014-16 period, and that a final report from the central bank would follow thereafter. Piraeus shares came under selling...

Bank Deposits Rise in July for Third Month in a Row

Greek private sector bank deposits rose in July for the third month in a row, although they remain at 14-year lows, central bank data showed on Monday. Business and household deposits rose to 121.25 billion euros from 120.42 billion in...

BoG Governor Stournaras: Debt Settlement a Prerequisite for Recovery

Bank of Greece governor Yiannis Stournaras underlined the significant progress of the Greek economy since 2010 and the correction of the imbalances. Stournaras was addressing on Wednesday an Economist conference held in Frankfurt. "It is a unique progress without precedent in...

BoG: Deposits Down by Over 2.4 Billion Euros in 2017; April Sees Credit Expansion

  The latest reports from the Bank of Greece (BoG) show that deposits have declined by more than 2.4 billion euros in the first four months of the year, while April's data shows it was the second month of credit expansion. In...

ECB Lowers Emergency Funding Cap for Greek Banks to €45.3 Billion

On Thursday the Bank of Greece (BoG) announced that the European Central Bank (ECB) has lowered the emergency funding cap for Greek banks to 45.3 billion euros. The emergency funding has been a life line to Greek banks as they...

BoG: State Generating More Debt Than it Is Repaying

The Bank of Greece (BoG) recently released data showing that the amount of state debt that Greece generates is mounting to figures that it is unable to pay off. Despite the increase in taxes and new higher social security contributions,...

Greece Has €5.26 Billion Euros of Gold Reserves, Half of Which is Abroad

Greece reported having some 149.1 tonnes of gold reserves at the end of 2016 amounting in the value of 5.26 billion euros, according to reports by Reuters. Almost half of that gold is kept in vaults abroad, and after a Greek...

BoG: Tourists in Greece Spent Less in 2016; Hits 15-Year Low

This week the Bank of Greece (BoG) released data showing that although tourism numbers are up in Greece, the amount of money tourists are spending while on vacation is at a 15-year low. The news of decline in spending comes at...

Stournaras: IMF's Fiscal Forecasts Raise Many Questions

Bank of Greece governor Yiannis Stournaras said in a letter responding to the IMF’s report published on Monday -- which proposed among other measures, broadening the personal income tax base and rationalizing pension spending as well as reducing non-performing...