Friday November 28, 2014 Search
Weather | Athens
14o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Banks reject stress test concerns

 Sector's denial of any capital injection needs receives backing from positive report delivered by JPMorgan

Greek banking sources are denying reports that the sector will need a new round of increased capital support, announcing that no such news has been delivered to them by the European Central Bank.

The reports on the issue have emerged ahead of a new round of stress tests to be conducted on all European Union banks this coming October.

As reported Wednesday by Kathimerini, the recent fluctuations observed in bank share price levels and the concern being expressed over the results of the EU-wide stress tests to be carried out by the ECB have prompted financial authorities to take action.

Responding to a request by the Greek Capital Market Commission for comments on the issue, the administrations of Greeces four main banks, National, Piraeus, Alpha and Eurobank, all denied receiving any warnings from the ECB, while also stating that the reports being floated around were unrealistic.

Also, according to Greek banking officials, certain technical details had not yet been determined, meaning that it was impossible at this stage to calculate or even produce rough estimates of the prospective stress test results.

The officials added that banks would have a fair idea about the stress test components around late September, stressing that even then it would not be possible for them to know whether additional capital would be needed.

Banks would be informed of the final results of the stress tests just days before they are published during the second half of October.

JPMorgan provided a reassuring note for Greek banks in announcing that it did not expect them to require additional capital injections, while also declaring that, according to its estimates, Greek banking shares were trading considerably below those of their European counterparts and possessed the capacity to rise.

In the event that these positive forecasts prove wrong and Greek banks end up needing to raise their respective capital levels, the development would require drawing money from the Hellenic Financial Stability Fund (HFSF), established to contribute to the maintenance of the stability of the Greek banking system.

ekathimerini.com , Wednesday August 20, 2014 (22:12)  
PPC profits power up in Jan-Sept
Papastratos banking on exports
Saudi group Olayan to enter Costa Navarino
Bank-financed property transactions rise a notch
Seven PASOK MPs voice support for party leader
Seven PASOK MPs on Thursday publicly backed Deputy Prime Minister Evangelos Venizelos and his plans for the party to play a leading role in a broader center-left alliance after ex-leader Geo...
New law could transfer control of unused buildings
Municipalities and private companies may soon get a chance to take over abandoned or empty buildings if a new bill drafted by the Environment Ministry is voted through Parliament. According ...
Inside News
SOCCER
PAOK is one win from Europa Leagues last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
COMMENTARY
Scraping together the 180 MPs will not be enough
Even if the coalition government was to scrape together the 180-MP majority it needs to elect a new President in the 300-seat House, skeptics say, what will change really? There is one evide...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. PAOK is one win from Europa Leagues last 32
2. First defeat for Olympiakos in Euroleague
3. PPC profits power up in Jan-Sept
4. Papastratos banking on exports
5. Saudi group Olayan to enter Costa Navarino
6. Bank-financed property transactions rise a notch
more news
Today
This Week
1. Greece paralyzed by major strike, flights cancelled
2. Greek diplomat dies in fall under Thai train
3. Greece scrambles to find food, shelter for 700 migrants on crippled ship
4. Chief suspect in Piraeus bar shooting arrested
5. Scraping together the 180 MPs will not be enough
6. Troika talks to continue after failure to wrap up negotiations in Paris
Today
This Week
1. Give Greece a chance
2. Scientists expand excavation of ancient Amphipolis
3. Extremism from a bygone era
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Coscos Greek unit adds multinational rail-freight client
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.