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ECB

ECB Insists on Property Auctions Across Greece

An "effective auction system is an important part of the work" in cutting bad loans in Greece, the head of the European Central Bank has insisted. Mario Draghi, replying to a letter from Greek MEP Nikolaos Chountis, said the controversial...

Tsipras: ECB's QE Program No Longer Crucial for Greece

Despite opposite statements in the past, prime minister Alexis Tsipras no longer believes that stimulus from the European Central Bank (ECB) is crucial for the economic recovery in Greece. "I think we will join the QE (quantitative easing) program but...

ECB Lowers Funding Cup for Greek Banks by €1.1 Billion

The European Central Bank lowered the cap on Emergency Liquidity Assistance (ELA) Greek banks draw from the domestic central bank by 1.1 billion euros to 25.8 billion euros, the Bank of Greece said on Thursday. The move reflected improved liquidity...

ECB's Nowotny: Turn ESM into European Monetary Fund for Greece's Bailout

Veteran European Central Bank policymaker Ewald Nowotny has backed turning the European Stability Mechanism (ESM) into a IMF-styled lender and for it taking over from the ECB in Greece's bailout programme. "The ESM might turn into a 'European Monetary Fund',...

ECB: Greek Banks Stress Tests Results Due in May

The European Central Bank's stress test of Greek banks is still expected to be completed in May despite a delay in a pan-European check. The Greek stress test, aimed at uncovering any shortage of capital before Greece leaves its 86...

Possible NBG Bond Buy by ECB Could Offer Support to Greek Economy

The European Central Bank could buy covered bonds issued by the National Bank of Greece under its asset purchase scheme, providing indirect support for the Greek economy, according to financial sources familiar with the matter. NBG this week sold 750...

ECB Profits from Greek Bond Holdings at €7.8 Billion

The European Central Bank has made nearly €8bn in profits from its holdings of Greek government debt, according to a written response provided by the ECB to a Greek MEP request. According to the response, holdings of Greek sovereign bonds...

ECB Move to Ask for 100% Coverage of NPLs to Hurt Greek Banks

A move by the European Central Bank to ask eurozone banks to set aside enough cash to cover 100% of their non-performing loans (NPLs) over the next several years, is especially expected to hurt Greek banks. Eurozone banks are sitting on...

Greek Bank Stress Tests by ECB may Come Earlier Next Year

The European Central Bank may bring forward its stress test of Greek banks next year, finalising data well before Greece is due to exit its three-year, 86 billion euro international bailout. The test could be finalised in early May to...

ECB Official: Putting Off Reforms Could Complicate Bailout Review

The Greek government should not put off agreed bailout reforms or it could “complicate” an upcoming bailout review by its foreign creditors, a European Central Bank official said. The third bailout review is expected to begin in October with bad...