Banks want further capital control easing


The Hellenic Bank Association is asking for an increase in the limit on cash withdrawals per bank account to 2,000 euros per month, from the current 840 euros per 14 days, along with a further relaxation of capital controls, mainly for enterprises.

The HBA proposals were forwarded to the Economy Ministry in November and are recorded in a study on the operation of the credit system released on Friday.

Among certain other measures the banks are requesting is an increase in the cash withdrawal limit from the current 30 percent to 60 percent of total funds a taxpayer or company has brought in from a foreign bank. They are also requesting that each customer be allowed to transfer up to 2,000 euros per month abroad, along with the doubling of the existing monthly approvals limit for banks, from 53 million to 106 million euros.

The capital controls were imposed in late June 2015 and were eased last year, but banks want to see them further relaxed in order to help the economy begin its recovery.