Wednesday October 22, 2014 Search
Weather | Athens
24o C
14o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
BoG set to publish test results

 Despite disagreement with troika, that sees needs up to 9 bln euros, the central bank will put them at 6 bln

By Yiannis Papadoyiannis

The Bank of Greece intends to publish local banks’ capital requirements by this Friday despite the disagreement noted in the second meeting between Governor Giorgos Provopoulos and troika mission chiefs in Athens on Tuesday.

The chief inspectors from the European Commission, European Central Bank and the International Monetary Fund insisted in Tuesday’s meeting that the capital needs of domestic lenders amount to 8.5-9 billion euros, according to the stress tests conducted on their loan portfolios by BlackRock Solutions late last year. Provopoulos however countered that the BoG’s calculation of the banks’ needs was based on BlackRock’s findings and that the central bank had followed a conservative approach to ensure the reliability of the exercise.

Sources say that the Bank of Greece has determined the capital needs of the banking sector at around 6 billion euros. Eurobank and National will each require over 2 billion euros, while the requirements of Piraeus Bank and Alpha will be marginal. Besides the four systemic banks, the BoG report will also include the needs of Attica Bank and Panellinia.

Tuesday’s meeting also examined the time frame that banks should be given to amass the necessary funds. There was no definitive decision on that either, but banking sector sources estimate that the process will have to be concluded before November, when the results of the new Pan-European stress tests will be issued by the ECB.

Notably, the ECB has made it clear that the issue of recapitalizations is the exclusive responsibility of the national regulatory authority, which will have the final say on the matter. After all, the BoG constitutes an independent institution which is not under government control and therefore its policy cannot be the object of political negotiations between the government and the troika.

Bank officials add that the local market will not respond negatively even if the troika publishes its disagreement with the results issued by the BoG.

ekathimerini.com , Tuesday March 4, 2014 (22:47)  
Prudential holds on to shorter-maturity Greek bonds amid selloff
Taprantzis resigns from privatization agency TAIPED
Credit sector officials sleeping easy ahead of stress test results
Certainty on primary surplus target
Fallen tree, smashup cause traffic jams in Athens
A tree caused a massive traffic bottleneck that lasted hours on Kifissias Avenue, north of Athens, after it fell on live power lines on Wednesday morning. Two of the three southbound lanes w...
EU´s Juncker pledges investment plan for jobs
The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament on Wednesday that he would present his 300-billion-euro plan for investment to bolster growth and job...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Fallen tree, smashup cause traffic jams in Athens
2. Prudential holds on to shorter-maturity Greek bonds amid selloff
3. EU´s Juncker pledges investment plan for jobs
4. Taprantzis resigns from privatization agency TAIPED
5. Cyprus to block Turkey´s EU talks after EEZ violation
6. Juncker’s EU commission team set for parliamentary green light
more news
Today
This Week
1. Juncker’s EU commission team set for parliamentary green light
2. Cyprus to block Turkey's EU talks after EEZ violation
3. Taprantzis resigns from privatization agency TAIPED
4. Prudential holds on to shorter-maturity Greek bonds amid selloff
5. EU's Juncker pledges investment plan for jobs
6. Fallen tree, smashup cause traffic jams in Athens
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Coalition shooting itself in the foot
4. GPO poll gives SYRIZA clear lead over New Democracy
5. Greece must stick to reforms, says Schaeuble
6. Greece’s closed society is central to its current malaise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.