Saturday April 25, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HFSF confident banks will cover their needs this fall

 ECB says stress test results will be announced in October

By Evgenia Tzortzi

The results of the stress tests that Greeces four systemic banks will undergo along with 124 other European lenders will be announced in the second half of October, the European Central Bank announced on Thursday, but even if the tests do show any additional requirements for the local banks they will be covered by international investors, according to the heads of the Hellenic Financial Stability Fund (HFSF).

The ECB published the details of the process that will be the main test for banks before they come under the supervision of the Single Supervisory Mechanism (SSM) in November, and National, Alpha, Piraeus and Eurobank will be informed of the results just before the markets are notified. The tests findings will constitute a basis in the drafting of business plans for the coverage of any capital requirements, which the lenders will need to submit within November.

In an interview with Bloomberg, HFSF Chairman Christos Sclavounis pointed to the fact that major fund managers placed 8.3 billion euros in Greeces systemic banks during the first half of the year, so one would expect that they will supply the funds that the system will be found to require according to the tests.

The chief executive officer of the HFSF, Anastasia Sakellariou, added that the fact that private investors took part in the share capital increases should not be underestimated. These are investors with a successful investment history and their participation constitutes a strong vote of confidence.

Therefore the HFSF may be able to return the 11.5 billion euros that has remained unused from the original 50 billion set aside for the recapitalization of the local bank system. Our strategic aim is for Greek lenders to have open access to the markets, so as to cover their needs in capital and liquidity, and I believe this target has been met, stated Sclavounis.

ekathimerini.com , Thursday Jul 17, 2014 (22:44)  
Construction material costs slide anew
Navios taps German shipping opportunities
Govt eyes state company reserves
Thessaly stores likely to remain closed on first Sunday of spring sales
Tsipras to see local officials as decree dispute heats up
Prime Minister Alexis Tsipras is due to meet regional governors and mayors in Athens on Saturday in an attempt to defuse a political row that has erupted as a result of the governments deci...
Kotzias talks Cyprus at UN
Foreign Minister Nikos Kotzias informed United Nations Secretary-General Ban-Ki moon on Friday about his positions regarding the removal of Greek and Turkish troops from Cyprus as part of th...
Inside News
TRACK & FIELD
Grabbing the shoes that have gone a long way
Greek Marathon legend Maria Polyzou is calling on everyone to join her in her charity run at the Dusseldorf Marathon on Sunday, April 26, by bidding for her special shoes she will race in an...
BASKETBALL
Printezis sends Olympiakos to the Final Four
A buzzer-beating three-pointer by Giorgos Printezis saw Olympiakos through to the Final Four of the Euroleague, as the Reds defeated Barcelona 71-68 on Thursday to claim the best-of-five qua...
Inside Sports
COMMENTARY
Something is changing on Cyprus
The first round of elections for the leader of the Turkish Cypriots last Sunday did not result in a winner but it showed that many voters support change change on the political scene and e...
EDITORIAL
Harmful talk
Early elections would not serve any purpose for Greece right now, and neither do threats that the government will collapse. It has become abundantly clear that the only solution lies in the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Tsipras to see local officials as decree dispute heats up
2. Kotzias talks Cyprus at UN
3. Construction material costs slide anew
4. Navios taps German shipping opportunities
5. Govt eyes state company reserves
6. Thessaly stores likely to remain closed on first Sunday of spring sales
more news
Today
This Week
1. Greece offers concessions in talks with creditors
2. EU frustration mounts as Greeks try to sidestep aid process
3. FinMin sources say gov't 'not bluffing' in opposing austerity
4. Varoufakis said to be called gambler, time-waster in meeting
5. Merkel: must prevent Greece running out of cash before deal
6. Eurogroup chief says great urgency to reach deal on Greece
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek government's popularity takes a hit as talks drag on
3. Putting off payments led to Q1 budget primary surplus
4. Obama calls for flexibility in Greek reform talks in brief exchange with Varoufakis
5. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
6. Europe's collision course with Greece
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.