Cyprus Mail
Business

ECB tests show Greek banks have capital shortfall of 14.4 bln euros

Greek banks have a capital shortfall of 14.4 billion euros if the country’s economy deteriorates further than expected, the European Central Bank said on Saturday.

In checks of the financial strength of the country’s four main banks – National Bank of Greece, Piraeus, Alpha Bank and Eurobank – the ECB determined that even should the economy perform as forecast, the banks would need 4.391 billion euros.

The assessment looked at how many loans would go unpaid if the country’s economy performs as expected up until 2017 – the so-called ‘baseline’. It also simulated a ‘stress’ scenario, where the economy dips further.

Related posts

‘Viva Felipe!’: Communist-run Cuba welcomes Spanish king

Reuters News Service

Turkish judge refuses to throw out trial of student Pride marchers

Reuters News Service

Rare portrait of teenage Mozart to be auctioned in Paris

Reuters News Service

Hackers hit UK Labour Party for second time in two days

Reuters News Service

Zimbabwe says 200 elephants have died in drought

Press Association

EU court rules goods from Israeli settlements must be labelled

Reuters News Service

10 comments

Comments are closed.