Sunday April 19, 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)  
US Treasury secretary urges Greece to reach debt deal
Greece poised to sign gas deal with Russia, says German weekly
Russia gas deal would not solve Greece’s problems, says Schaeuble
Spanish official slams Greece, says time ´running out´
Kotzias to begin US visit with Kerry meeting in Washington
Foreign Minister Nikos Kotzias is due to begin a five-day visit to the US on Monday. He will begin his trip by meeting Secretary of State John Kerry in Washington, where he will also hold ta...
Turkey asks for investigation into Greek mosque attacks
The Turkish Foreign Ministry has asked Greece to investigate the vandalism of two mosques in Komotini following incidents on Friday. “Turkey requests Greek authorities to clarify as soon as ...
Inside News
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
Back to the beginning
From 1980 up until the present day, the Greek educational system has given a false sense of democratization based on a flawed system of educator and student participation. The educational ou...
EDITORIAL
Protecting a key asset
Tourism has emerged as the only real “heavy industry” in Greece to have weathered the crisis so it is not only a question of duty that everyone protect it but also interest. To begin with, m...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. US Treasury secretary urges Greece to reach debt deal
2. Greece poised to sign gas deal with Russia, says German weekly
3. Russia gas deal would not solve Greece’s problems, says Schaeuble
4. Spanish official slams Greece, says time ´running out´
5. Kotzias to begin US visit with Kerry meeting in Washington
6. Turkey asks for investigation into Greek mosque attacks
more news
Today
This Week
1. Back to the beginning
2. Terrorism suspects caught following German request
3. Golden Dawn on trial amid conflict over court venue
4. US Treasury secretary urges Greece to reach debt deal
5. Greece poised to sign gas deal with Russia, says German weekly
6. Turkey asks for investigation into Greek mosque attacks
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. In the shadow of Greek prison, locals dread Golden Dawn trial
6. Putting off payments led to Q1 budget primary surplus
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.