banking
Economy
Further Reduction in Borrowing From ELA by Greek Banks
Greek banks further reduced their borrowing from the Emergency Liquidity Assistance mechanism (ELA) after the governing council of the European Central Bank approved a request made by the Bank of Greece to lower the borrowing ceiling by 100 million euros...
Economy
Yiannis Stournaras Says Greek Banking System Shielded and Views Greek Economy as Positive
Bank of Greece governor Yiannis Stournaras said the Greek banking system is shielded from developments at Deutsche Bank and there is no reason for concern. The BoG governor made this statement following a meeting with Prime Minister Alexis Tsipras...
Economy
Bank of Greece Ends Freeze on New Lending for Attica Bank
The Bank of Greece on Tuesday announced that it had lifted temporary restrictions on new lending and credit facilities by Attica Bank, after the bank resolved corporate governance issues.
The central bank said that an emergency general shareholders' meeting at...
Economy
Moody's: Reduction of NPLs 'Credit Positive' for Greek Banks
On Monday Moody's said that a reduction of non-performing loans and of operating spending by Greek banks was a "credit positive" move for banks.
In its Moody's Credit Outlook, the credit rating agency said that the four largest Greek banks...
Economy
Government Reliance on Repos Causing Negative Impact on Liquidity of Banking System
According to figures from the Public Debt Management Agency (PDMA), the government of Greece has been relying on repurchase agreements, or repos, in order to meet financial obligations, causing a negative impact on the liquidity of the banking system.
The...
Economy
Bank Officials Say Depositors Still Wary Due to Capital Controls
Greeks are still not convinced that they can trust banks with their earnings, according to a recent report from the Bank of Greece (BoG).
Not only are Greeks still stashing away their money under mattresses or in home safety boxes, the...
Economy
ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros
The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece (BoG) said on Thursday.
The move reflected...
Greece
Ministry, BoG Propose Incentives to Deposit Hidden Stashes of Cash in Banks
The Finance Ministry and the Bank of Greece have announced that they are looking to create an exemption from capital controls for any money that Greeks deposit in local banks that they have been stashing in home safety deposit...
Greece
Greece's Bank Association Announces Capital Controls Could be Lifted by End of 2016
According to Greece's banking association Greece might be able to lift most or all capital controls by the end of the year.
On Saturday, the association said that the controls which apply restrictions that only 420 euros a week can be withdrawn from banks might be...
Economy
Greek Bank Capital Controls On the Road to Being Lifted
The Bank of Greece and European authorities are taking the first big step to ease capital controls that were first imposed on June 18, 2015, prior to the agreement of a third bailout deal between Greece and its creditors....