Friday March 27, 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 Greece’s 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 Greece’s 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)  
Bundesbank´s Weidmann says euro zone debt in ´danger zone,´ opposes more aid for Greece
Greek future as trade hub in limbo amid Syriza split on railways
Bank deposits lost another 7.6 billion euros last month
Cosco sees rivals behind EU verdict
Greek gov´t denies finance minister Varoufakis to resign
Greece's outspoken Finance Minister Yanis Varoufakis is not planning to resign, two Greek government officials said on Friday, denying a report in Germany's Bild newspaper. "None of this is ...
Clocks go forward one hour on Sunday
Clocks should be set forward by one hour at 3 a.m. on Sunday morning to read 4 a.m. as daylight saving begins. The change will mean the loss of one hour's sleep, but also an additional hour ...
Inside News
BASKETBALL
All is well that ends well for Olympiakos
Young Ioannis Papapetrou helped Olympiakos stage an impressive last-quarter performance to beat visiting Efes Anadolu 86-75 on Thursday and bring its Euroleague losing streak to an end. The ...
BASKETBALL
Reds survive KAO Dramas scare in Piraeus
KAO Dramas gave depleted Olympiakos a scare at the Peace and Friendship Stadium on Monday, but the league leaders eventually managed to get their 20th win in 21 games. The Reds won by 10 (72...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek gov´t denies finance minister Varoufakis to resign
2. Bundesbank´s Weidmann says euro zone debt in ´danger zone,´ opposes more aid for Greece
3. Clocks go forward one hour on Sunday
4. Greek future as trade hub in limbo amid Syriza split on railways
5. New Democracy´s political council convenes to decide line opposite gov´t
6. All is well that ends well for Olympiakos
more news
Today
This Week
1. New Democracy's political council convenes to decide line opposite gov't
2. Greek future as trade hub in limbo amid Syriza split on railways
3. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
4. Clocks go forward one hour on Sunday
5. Greek gov't denies finance minister Varoufakis to resign
6. Greece optimistic on deal with euro area next week
Today
This Week
1. Next Monday is D-Day for state funds
2. Total victory is unattainable
3. EU asks Greece for more reforms to speed talks on bailout
4. PM faces Merkel amid race to detail reforms
5. Some more equal than others
6. New book by ex-US diplomat delves deeper into the recesses of Greek terrorism
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.