ECONOMY

ECB’s Nouy says Greek banks solvent

Greece’s banks remain solvent, the European Central Bank’s top banking supervisor said on Tuesday.

Asked at a conference at the OECD in Paris whether Greek banks are well capitalized, Daniele Nouy, who heads the ECB’s banking supervisory arm, said: “They are solvent.”

Her assertion is important because only solvent banks qualify to receive the emergency central bank funding that Greek banks rely on.

[Reuters]