Wednesday November 26, 2014 Search
Weather | Athens
12o C
9o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Changes to Tiresias rules to give reliable borrowers more credit

By Yiannis Papadoyiannis

The government and Greek banks are considering changing the rules governing the operation of the Tiresias credit profile database by introducing a more flexible system in order to handle the rise in bad loans. Sources have also told Kathimerini that the Bank of Greece is poised to choose an international consultant to help the central bank on the issue of nonperforming loans.

BoG sources say that there are currently no plans for the creation of a single bank, or bad bank to gather all bad loans from Greek lenders. Each bank will handle its load of bad loans internally, through the special units that have already been set up exclusively for this process.

In the next few weeks the government and the central bank, in cooperation with the consultant that will be selected, will draft a series of legislative and supervisory initiatives for the handling of bad loans and the reflation of the banking market.

In this context authorities are examining the revision of Tiresias regulations toward a more flexible framework and eventually toward the return of bad borrowers such as enterprises, freelancers and households to the category of solvent borrowers. Bank officials say that with 35 percent of loans in a state of definite delay, meaning they have not been serviced for 90 days or more, over 50 percent of borrowers have at one point been flagged by the credit warning system of Tiresias.

As things stand, none of these borrowers can take out any loans, said a bank official. The objective is not only for bad loans to be dealt with but also for that part of the population that due to the crisis has been tagged insolvent to be able to return under certain conditions to the category of households and enterprises that deserve fresh credit, the same official explained.

Of course the change to Tiresias regulations does not mean borrowers will be granted a debt write-off. More flexible regulations will only pertain to those who have actively shown they can be reliable and consistent. Banks have stressed they will not be lenient with borrowers who have used the crisis as a pretext to forfeit on their obligations or to share their losses with the credit system and therefore with responsible borrowers.

ekathimerini.com , Monday Jul 14, 2014 (22:40)  
Debtors snap up offer for easier settlements
Belgium gas firm said to be eyeing DESFA
OLP approval paves way for investment in Piraeus
Airport tender exceeds expectations
Hundreds of migrants on crippled ship off Crete
Ships from Greece rushed to help after a crippled freighter crammed with hundreds of migrants floundered for hours Tuesday in gale-force winds and high waves in the Mediterranean Sea, offici...
Policemen suspected of working at Piraeus bar where shooting took place
At least three serving policemen are thought to have been working at the bar in Mikrolimano, Piraeus, where a 31-year-old man opened fire with an AK-47 early on Saturday, resulting in 15 peo...
Inside News
SOCCER
Atletico eyes last 16 berth against Olympiakos
Greek champion Olympiakos faces a tough task if it is to prevent last season's beaten finalist Atletico Madrid sealing its passage into the last 16 of the Champions League at the Vicente Cal...
SOCCER
EPO ends soccer suspension, Super League resumes
Soccer action will resume this weekend after the Super League convened on Monday, elected a new president and alternate president and sent a letter to the soccer federation that assures it t...
Inside Sports
COMMENTARY
Beware of the fallen idols
Akis Tsochatzopoulos, a legendary figure of the Greek socialist movement, a man who came very close to taking over the party that governed the country for half of the time following the fall...
EDITORIAL
The hard truth
The coalition government must tell the truth to the Greek people, even if this entails admitting to mistakes made over the last few months. The countrys citizens are fully aware of how cruc...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hundreds of migrants on crippled ship off Crete
2. Atletico eyes last 16 berth against Olympiakos
3. Debtors snap up offer for easier settlements
4. Belgium gas firm said to be eyeing DESFA
5. OLP approval paves way for investment in Piraeus
6. Airport tender exceeds expectations
more news
Today
This Week
1. Anastasiades to undergo heart surgery in the US on Dec 4
2. Cargo vessel carrying hundreds of migrants adrift southeast of Crete
3. Trade deficit widens by 8.7 percent during Jan-Sept period, says ELSTAT report
4. Two police officers among 9 arrested for drug trafficking
5. Fraport, Copelouzos offer highest bid for Greek regional airports
6. Stop Mediterranean becoming vast migrant cemetery, Pope tells Europe
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Give Greece a chance
3. Biden heads to Istanbul amid tension over Cyprus EEZ violation
4. Every age has its collaborators
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Scientists expand excavation of ancient Amphipolis
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.