BANK OF GREECE

ENGLISH EDITION

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.

17 Μαρ 2020 13:02

ENGLISH EDITION

Healthy businesses facing liquidity squeeze set for lift

Τhe central bank's main goal is to prevent one of the biggest risks posed by the new turmoil to the global economy from the coronavirus epidemic: to find and healthy and sustainable businesses suffering liquidity problems, that may otherwise reduce their operations, or even shut down, due to the deteriorating conditions.

14 Μαρ 2020 10:36

ENGLISH EDITION

BoG chief Stournaras expects growth acceleration

On the "challenges" included in the report, the governor of the Bank of Greece pointed out that the fiscal discipline should continue and the target for primary surplus reduced, "always in consultation with our partners".

21 Δεκ 2019 08:45

ENGLISH EDITION

Bank of Greece plan to cover 60 pct of Greek bank NPLs, governor Stournaras says in Thessaloniki

The Bank of Greece will activate a plan to resolve the 60 pct of nonperforming loans (NPLs) not covered by the "Hercules" plan proposed by the government, bank governor Yannis Stournaras revealed while speaking at the Thessaloniki Summit 2019 on Friday evening.

16 Νοε 2019 12:39

ENGLISH EDITION

Investors scratch their heads over Greek banks, bad loan plans

A number of fund managers believed recently that Greek banks had turned the corner and started building positions in the sector. But most of them now looking over their portfolios in disappointment, realizing that there is a massive gap between preparing a proposal that will improve the balance sheets of lenders and implementing it. What did go wrong.

08 Οκτ 2019 11:34

ENGLISH EDITION

Greek Fin Min Staikouras steps in on Hercules bad loan plan

Greece's Finance Minister Christos Staikouras is scheduled to meet on Thursday afternoon with the heads of the country's banks to discuss the Hercules bad loan plan in a bid to secure the highest participation from lenders and reduce the risk of fresh uncertainty hitting the sector. The meeting comes after a report from Business Daily showing that the technical details of the plan submitted by Greece to the European Commission have not been approved by the European Central Bank's Single Supervisory Mechanism (SSM).

02 Οκτ 2019 11:39

ENGLISH EDITION

BoG governor Stournaras sees growth rates higher than 3 percent, under conditions

Bank of Greece (BoG) governor Yanis Stournaras estimated that growth rates could exceed 3 percent, under conditions, speaking at an event organized by the Stavros Niarchos Foundation at Yale University in the US.

20 Σεπ 2019 10:14