Wednesday October 1, 2014 Search
Weather | Athens
28o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Banks to return 2.86 billion euros in crisis loans to ECB next week

Banks will return 2.861 billion euros (2 billion pounds) in long-term loans to the European Central Bank next week after the ECB started to charge for holding banks' excess cash overnight and promised more long-term loans.

The amount that banks will repay on Aug. 20 is less than this week's crisis-loan repayments of 4.15 billion euros and misses the 4.0 billion forecast in a Reuters poll.

The ECB cut interest rates to record lows in June - the deposit rate to below zero - and took several steps to boost lending to euro zone companies. It also pledged to do more if needed to fight off the risk of Japanese-style deflation.

The measures include a new four-year loan scheme, which the ECB hopes will encourage banks to boost their lending.

Banks continue to repay LTRO funds they took from the ECB in late 2011 and early 2012 as they are going through ECB health checks, which are in their final stages now with a Europe-wide bank stress test.

On Friday, the ECB said two banks would repay 300 million euros from the first LTROs on Aug. 20 and six banks would pay back 2.561 billion from the second LTRO.

[Reuters]

ekathimerini.com , Friday August 15, 2014 (16:35)  
Attica Bank said to have rejected notable offers
PMI index slides anew in September
Costa Navarino to host big events
Construction of F1 circuit at Patra to start by year-end
Terror group link prompts police raids and arrests
Police found a Kalashnikov assault rifle, a handgun, a hand grenade and numerous bullets Wednesday while searching homes in Athens and Thessaloniki used by six people who were detained and a...
Samaras to seek confidence vote in bid to rally coalition
The government said on Wednesday that it will request a vote of confidence when Parliament reconvenes after the summer recess next week, seeking to douse speculation about early elections an...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakoss first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Truth before the battle
The coalition has lost its sense of direction in the last few months. Exactly where things went off track is not the question at this stage. What is certain is that if it continues competing...
EDITORIAL
Bending the rules
The flexibility with which laws are implemented has been a fundamental cause for concern in Greece during the post-dictatorship era. Everything becomes a subject for negotiation, even in cas...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Terror group link prompts police raids and arrests
2. Samaras to seek confidence vote in bid to rally coalition
3. Attica Bank said to have rejected notable offers
4. PMI index slides anew in September
5. Costa Navarino to host big events
6. Construction of F1 circuit at Patra to start by year-end
more news
Today
This Week
1. Air-raid sirens to go off all over Greece at 11 a.m. in drill
2. Mario Draghi to push ECB to buy Greek, Cypriot 'junk' loans: FT
3. Truth before the battle
4. Smallpox decimates sheep stocks in northern Greece
5. Thessaloniki transport gets more expensive
6. Bending the rules
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.