April 2020 - Page 3 of 10 - NPL Confidential

Hellenic Vehicle Industry liquidation is postponed

24 April 2020 Editors

Due to the coronavirus crisis, the tender carried out by Ernst & Young for the Hellenic Vehicle Industry S.A. (ELVO) has been pushed back to May 18.

First Capital is the new loan servicer added to the list

24 April 2020 Christos Ziotis

A new loan servicer company was licensed by Bank of Greece, increasing the list of companies currently operating in the country to 23.

Fitch cuts Greece’s outlook to ‘stable’, maintains rating at ‘BB’; DBRS and S&P to follow today

24 April 2020 Editors

In a surprise move, as it came three months in advance of its scheduled (as part of the EU-required sovereign…

Talks to resume with creditors today on legal protection for homes

24 April 2020 Konstantinos Papagrigoris

The only concession Creditors seem willing to make, under certain conditions, is for borrowers affected by the crisis, ie those who have included in the government’s list of businesses suffering from the pandemic.

As creditors refuse extension to homes protection, Greece puts state aid on mortgages on table

23 April 2020 Konstantinos Papagrigoris

Lenders insist on their position to not extend the home protection framework beyond May 1st. Greek government will ask lenders today to put in place a new institutional framework that will allow the state to subsidize mortgage installments.

ECB eases collateral rules to pre-empt potential rating downgrade

23 April 2020 Christos Ziotis

ECB took another decisive step to mitigate impact of possible rating downgrades on collateral availability. The Central Bank aims to ensure that banks have sufficient assets that they can mobilise as collateral with the Eurosystem to participate in the liquidity-providing operations and to continue providing funding to the euro area economy.