Thursday April 2, 2015 Search
Weather | Athens
14o C
09o 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)  
ECB raises ELA limit by 700 mln euros
Attica office market sees no end to crisis-linked drop in demand
Stathakis prefers PPPs for the concession of regional airports
One-off takings help revenues
Government considers ministry switch after Parliament protest
The government is considering putting the Citizens Protection Ministry under the auspices of the Justice Ministry in a bid to boost both civil rights and public order, sources said on Wedne...
Updated reform list still not enough to unlock aid
Greek officials and euro-area technical experts yesterday discussed an updated list of reform proposals but were unable to reach an agreement that would pave the way for Greece ending its li...
Inside News
BASKETBALL
AEK could get a wild card to the Euroleague
AEK shows capable of climbing as high as third in the Basket League, as its 16-point home win over third-placed Aris on Sunday confirmed it can challenge both Aris and PAOK to the first spot...
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
Inside Sports
COMMENTARY
Going his own way
While up until the last election we had become accustomed to referring to the coalition government led by Antonis Samaras as one featuring a split personality, no political psychoanalyst cou...
EDITORIAL
Righting the wrongs
A country that wants to move forward should study and deal with its past mistakes in a mature and responsible manner. Greece was hit by an unprecedented debt crisis and it came to the brink ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. ECB raises ELA limit by 700 mln euros
2. Attica office market sees no end to crisis-linked drop in demand
3. Stathakis prefers PPPs for the concession of regional airports
4. One-off takings help revenues
5. Stocks slide in particularly thin trade
6. Government considers ministry switch after Parliament protest
more news
Today
This Week
1. Going his own way
2. Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
3. Athens aims to tighten ties with Russia
4. Spike in migrants reaching Lesvos
5. Buffett says Greek exit from euro may not be a bad thing
6. Greek economy minister sees deal with EU/IMF on reforms next week
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Amateur antics or overstepping the mark?
5. Greece optimistic on deal with euro area next week
6. ECB nerves fray on Greece as supervisors rile central bankers
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.