2020 - Page 2 of 77 - NPL Confidential

What are provisions and non-performing loan (NPL) coverage?

24 December 2020 Editors

o ensure that banks book sufficient provisions, EU law sets a minimum coverage ratio that banks are required to maintain. If a bank has not booked enough provisions to cover its new non-performing loans, it must correct the shortfall by deducting the missing amount from its capital.

The “secret” of the Frontier project

23 December 2020 Konstantinos Papagrigoris

How National Bank of Greece managed the new securitization project, of 6.1 billion euros, named Froniter, to have zero impact on its capital.

Covid policies hit securitized deals, prompting slowdown in recovery rate

22 December 2020 Editors

Panousis: Targets set for these portfolios before Covid were quite high now the rate of recoveries has been negatively affected.
Stournraras: Implementation of the AMC has now passed to the government, it could be put into operation in 2021.

National Bank of Greece sell Romanian NPLs to Bain Capital

22 December 2020 Editors

National Bank sells project Danube with a total Gross Book Value of c. €174 million (€102 million of allocated collateral value) to bain capital. The bank said that the transaction has a neutral capital impact.

Binding offers on Poseidon Resort expected today

21 December 2020 Konstantinos Papagrigoris

The binding offers for the emblematic Poseidon Resort in Loutraki have been submitted to banks.

Interest in Kallimanis

21 December 2020 Editors

A Greek fund and a businessman, who recently closed a deal in the food sector, are in discussions for the…

Govt pushes back deadline for mortgage subsidy program by 3 months

21 December 2020 Editors

The Finance Ministry has extended the deadline for applicants to join the GEFYRA (BRIDGE) mortgage subsidy program by three months,…

National Bank launches the Frontier EUR6.1bn NPEs securitization

21 December 2020 Konstantinos Papagrigoris

Application to include Frontier project into Hercules plan days away

The course of the CDS will determine exactly when the management of National Bank applies to the Ministry of Finance, for the inclusion of the 6.1 billion euros Frontier securitization into the Hercules program.

Fin Min to table amendments on bankruptcy law today

21 December 2020 Konstantinos Papagrigoris

“Second Chance”, is unable to take effect January 1, as foreseen. This has prompted the Finance Ministry to temporarily regulate the new law, the transitional framework that will be in effect, and the extension of the Bridge program.

EU speed up the creation of central NPL data hub

21 December 2020 Editors

The European Commission is aiming to increase market transparency at the granular level, t and discourage big funds that press for lower prices. European DataWarehouse (EDW) announced it has been put forward by the EC as a solution for a European NPL Data Hub.