ECONOMY

Banks urged to expedite liquidity plan, up capital

Bankers were urged yesterday to speed up the implementation of the government plan to boost liquidity in the market. Bank of Greece Governor Giorgos Provopoulos met with the heads of most commercial banks and called for better coordination and more effective implementation of the plan, while asking banks to be particularly careful with their risk management and to strengthen their capital base. The bank chiefs responded that interest rates for deposits are too high for banks to offer attractive loans, indicating that 2009 will likely see the end of particularly high rates for those with money in the bank.