Sunday November 23, 2014 Search
Weather | Athens
18o C
10o 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)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. PASOK nixes Papandreou leadership challenge
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Fitch keeps Greek rating at B, outlook stable
4. Climate change to hit farming, Greek coastline
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.