Of Eleftheria Kourtali Given the challenges posed by price increases and the Russian invasion of Ukraine, according to DBRS, it is premature to abolish an effective tool like “Hercules” when it is scheduled to expire in October 2022. At the same time, as he points out, as the responsibility of managing the NPLs has been […]
Tag: Plan "Hercules"
Intrum: Great interest in the secondary loan market
The activation of the secondary loan market in combination with the inflow of new investment funds is expected to enhance market liquidity, ensuring the smooth implementation of the Hercules program, said Mr. Akis Bis, Managing Director of Intrum Investments Greece. Despite the macroeconomic impact of energy costs, high inflation and the war in Ukraine, “our […]
Italy to ask EU for up to two years extension of its ‘Hercules’ for NPLs
Italy plans to launch a round of negotiations with the European Commission to extend the guarantee mechanism to help banks with non-performing loans (NPLs) by up to 24 months, according to sources familiar with the matter. the Reuters agency. The “GACS” government guarantee scheme, as it stands today, expires in mid-June, depriving the financial sector […]
Why do funds sell securitized loans to other investors?
By Leonidas Stergiou The secondary market for securitized red loans has started with large transactions. Funds that had bought securitized red loans from banks through Hercules, create smaller portfolios which they sell to other investors. The beginning was made with Bain Capital, which has bought several securitized loans of the National Bank. Bain Capital is […]
G. Zavvos: ‘Hercules’ example for dealing with NPLs for other countries
The reform of “Iraklis” is important not only for Greece but also for the course of European integration, while it can be an example for dealing with non-performing loans (NPLs) both inside and outside the EU, said George Zavvos, former Deputy Minister of Finance , responsible for the Financial System, speaking at the Center for […]
How Greece saved a debt increase of at least 23 billion euros
By Tasos Dasopoulos Without drama, it seems that the issues opened by Eurostat in the last audit of the Greek financial data that it did last month are closing. Examining the guarantees of the state, he also focused on those given by the state for the “Hercules” program, which aimed to reduce the red loans. […]