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Bond issued for capital support of Greek banks in 2009 reaches maturity
EconomyIn late 2008, amid the US subprime crisis and 1.5 years before the signing of the first Memorandum of Understanding with the troika, the Greek government passed a bank liquidity and capital support bill (Law 3723/2008).
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Piraeus snaps up share in MIG to complete series of corporate moves
EconomyBankingPiraeus Bank announced on May 14 its third major corporate development in the last two months, following the successful completion of a 1.75-billion- euro capital increase in late March and a senior unsecured bond issue of 500 million in mid-March.
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April saw first rise in Greek banks' Eurosystem funding this year
EconomyMacroeconomyGreek banks’ Eurosystem funding increased by 1.27 billion in April, showing a monthly rise for the first time since December 2013, according to the Bank of Greece's (BoG) monthly financial statement.
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Moody's upgrades Greek banks to stable, sees NPLs peaking at 37 pct this year
EconomyMoody’s upgraded on Tuesday its outlook on Greek banks to stable from negative, reflecting its expectations for an economic recovery in 2014-15 after six years of recession.
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Credit contracts by 4.1 pct in March, loans down by 3.4 pct
EconomyMacroeconomyThe year on year (YoY) credit contraction in the Greek market slightly accelerated to 4.1 percent in March from 4 percent in the preceding two months, with balances reaching 215.88 billion euros, according to the BoG.
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Slight rise in deposits for March but outflows at 2.2 bln for 2014
EconomyMacroeconomyGreek private sector deposits rose 0.3 percent month on month (MoM) in March, with balances reaching 161.05 billion euros, according to the Bank of Greece (BoG).
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National Bank follows other Greek lenders' by opting for capital increase
EconomyBankingAs had been rumoured, National Bank of Greece’s board (NBG) decided on April 16 to call an Extraordinary General Meeting for May 10 to approve a capital increase of up to 2.5 billion euros.
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Eurobank gears up for crucial but contentious capital increase
EconomyBankingEurobank, Greece’s fourth largest lender, is preparing to carry out before the end of this month a share capital increase that will ensure its capital adequacy but which has many opponents due to the controversial nature of the method that has been chosen.
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Greek banks' Eurosystem funding falls for third straight month, at lowest since Feb 2010
EconomyMacroeconomyGreek banks’ Eurosystem funding dropped in March at the fastest pace since May 2013. It fell by 7.3 billion in what was the third successive month that funding declined, according to the Bank of Greece's (BoG) monthly financial statement.
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Bank framework paves way for Eurobank capital increase, gives HFSF flexibility
EconomyBankingAlpha and Piraeus banks successfully completed at the beginning of the week their capital increases of 1.2 and 1.75 billion respectively via private placements conducted through book-building processes with foreign investors.