Saturday March 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Provopoulos says issue of banks’ stress tests is closed

 Capital needs to be announced despite objections by troika

By Yiannis Papadoyiannis

Despite the different approaches that the Bank of Greece and the country’s creditors have taken toward the assessment of local lenders’ capital requirements, the issue is closed as far as the country’s central bank is concerned, its governor, Giorgos Provopoulos, said on Thursday. The results of the stress tests are expected to be published by March 7.

Provopoulos’s statement served to confirm there is no chance of an increase to the requirements up to a total of 8 billion euros that the troika of representatives from the European Commission, the European Central Bank and the International Monetary Fund insisted on, so the estimated sum of the credit sector’s needs will not exceed 6 billion euros.

Provopoulos underscored that BlackRock Solutions’ examination of the data during this test involved a more in-depth analysis of local loan portfolios while also assessing the loan requirements of Greek lenders’ larger foreign subsidiaries. Furthermore, BoG commissioned Ernst & Young and Rothschild as independent consultants for the tests.

Bank officials told Kathimerini that the methodology followed by BoG for this test adheres to BlackRock’s findings regarding the potential losses banks could face due to nonperforming loans, and sticks to a strict approach on the assessment of favorable factors (operating profits, capital reserves, synergies, deferred tax etc).

National Bank sources claim that the BoG approach to its subsidiaries abroad was particularly harsh, placing additional burden on the group. National’s capital needs – expected to amount to 2 billion euros – reportedly stem from the bank’s subsidiary in Turkey and not from its portfolio of loans issued in Greece.

On Thursday the bank’s chief executive, Alexandros Tourkolias, met with Provopoulos to discuss the results of the stress tests, among other things. National sources added that the bank will cover its requirements through indirect synergies, without resorting to a share capital increase.

ekathimerini.com , Thursday February 27, 2014 (22:53)  
Fitch downgrades Greece amid bailout uncertainty
Bank accounts continue to bleed
Hania and Athens are the top picks for Easter visitors
Landlords to pay tax on unpaid rent
Defense minister Kammenos sues commentator for 1 mln euros
Defense Minister Panos Kammenos has sued commentator Andreas Petroulakis for 1 million euros in damages over a critical article posted on the Protagon website on March 17. In a statement pos...
Reform talks move to Brussels
The Brussels Group, technical teams from Greece and its lenders, is on Saturday due to begin discussing the details of Athens reform proposals, which were completed Friday and will determine...
Inside News
BASKETBALL
Greens live dangerously in Istanbul
Panathinaikos played with fire in Istanbul, but still managed to beat Galatasaray 86-84 on Friday and climb to the third sport of its group two games before the end of the Euroleague top-16....
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
Inside Sports
COMMENTARY
Let´s change the subject
Let’s talk about the weather. The cloudy skies, the rain, storms and humidity, the overall heavy atmosphere. It’s better to think of that than politics and politicians, whatever cuts they ma...
EDITORIAL
Too little, too late?
Many of the measures that are rumored to comprise part of the list that the Greek government is expected to submit to the European Commission, European Central Bank and the International Mon...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Fitch downgrades Greece amid bailout uncertainty
2. Greens live dangerously in Istanbul
3. Bank accounts continue to bleed
4. Hania and Athens are the top picks for Easter visitors
5. Landlords to pay tax on unpaid rent
6. Air arrivals grow 20 pct in Jan-Feb 2015
more news
Today
This Week
1. Fitch downgrades Greece amid bailout uncertainty
2. Let's change the subject
3. Too little, too late?
4. Greek future as trade hub in limbo amid Syriza split on railways
5. Greek gov't denies finance minister Varoufakis to resign [Update]
6. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
Today
This Week
1. Next Monday is D-Day for state funds
2. EU asks Greece for more reforms to speed talks on bailout
3. PM faces Merkel amid race to detail reforms
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Looking at the Chinese model
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.