Interview of the Bank of Greece Governor with Frankfurter Allgemeine Zeitung

"Risks for banks under the pandemic are mostly credit risks, related to the depth and duration of the recession. Hence, banks should be careful enough to protect their balance sheets, while at the same time using all the considerable flexibility and liquidity granted by the ECB to provide credit to businesses and thus contribute to keeping the productive capacity of the economy intact. It is an unfortunate development that, at the moment that Greek banks had started to achieve a remarkable reduction of non-performing loans (NPLs), the pandemic has increased the risk of a reversal."

Hercules bad loan plan gets nod from SSM in major boost for banks

Bank of Greece governor, Yannis Stournaras, met with the heads of the country's lenders on Monday and briefed them on the positive outcome of talks on the issue. This is seen a being a major development for the sector as it opens the path for the sale of large-sized securitizations of bad loans within the framework of the Hercules plan that will offer state guarantees on senior tranches, once conditions in the market return to normal.