By Leonidas Stergiou In addition to the decline in net savings in January, which is a traditional phenomenon as a December deflation, banks are finding clear signs of fatigue in the savings rate of households, especially younger people, due to high energy bills and generally inaccurate and in the official data of February that will […]
Tag: red loans (NPLs)
F. Ioannou (National Bank): From the 120 billion euro red loans in 2015 to the 15 billion euro in 2022
The problem of non-performing loans (NPLs) in the domestic banking system we have left behind with a series of non-organic actions that took place (sales, securitizations mainly in the last 3 years and with the help of “Hercules”) but also organic actions such as arrangements, stressed the General Manager of Corporate and Retail Banking Receivables […]
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 […]
The 13th assessment for the economy is developing positively
By Tasos Dasopoulos Positively, in every respect, the 13th evaluation has started in a regime of enhanced supervision with the representatives of the institutions admitting that at the end of 2022 Greece will have managed to enter a stable growth trajectory. Specifically, from the data presented by the staff of YPOIK, the representatives of the […]
Bank of Greece: Exact energy can trigger interest rate hikes and slow growth
LAST UPDATE: 13:30 By Leonidas Stergiou The auspicious forecasts for the Greek economy and the banking system are reflected in the Interim Monetary Policy Report of the Bank of Greece, both for 2021 and for the coming years. However, it points to risks that could reverse the positive scenario with a higher inflation rate: “This […]
Bigger haircuts were decided by the loan management companies
By Leonidas Stergiou The servicer and the Bank of Greece agreed to exhaust all the possibilities that loan managers have for more regulations, but also to search for new tools and improvements of the institutional framework that can lead to permanent loan consolidation. The available data from the Bank of Greece and the European Banking […]
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 […]
Barrage of bond issues from the four systemic banks
By Leonidas Stergiou Most of the market liquidity program for 2022 is expected at the beginning of the new year, due to uncertainty from the pandemic and inflation. However, the raising of funds will be partial, as, at the beginning of the year there will be a demand for funds internationally, which may increase costs. […]
BoG: Acceleration of inflation in 2022
LAST UPDATE: 18.21 By Leonidas Stergiou The Bank of Greece is ringing loud bells for the economy and banks, warning of the risk of inflationary pressures that could overturn the favorable outlook for the Greek economy in 2022. The Bank of Greece’s Financial Stability Report predicts that “inflation is expected to accelerate in 2022.” This […]
