2020 - Page 64 of 77 - NPL Confidential

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.

ECB meets on junk bond collateral rules

22 April 2020 Editors

President Lagarde drew the line at buying debt directly from euro zone governments and has poured cold water on the notion of “helicopter money” drops for households.

This is Greece’s Current Account Balance…

22 April 2020 Editors

Current Account Balance | January-February EUR m 2018 2019 2020 Current Account Balance -1,935 -2,198 -2,428 Goods Balance -3,610 -3,877 -3,791 YoY…

Greece’s talks with creditors on protection of main residence from foreclosure

22 April 2020 Editors

The discussions for the sixth enhanced surveillance review started yesterday with the creditors technical staff and will be concluded tomorrow…

Piraeus Bank close to a new investor on Iris project

22 April 2020 Konstantinos Papagrigoris

After a previous attempt to sell the portfolio to the Czech Republic’s APS fell through the management of Piraeus Bank immediately started discussions with Intrum.

Stournaras; a bad bank must be set up quickly. NPEs expected to increase by as much as 11% in 2020

21 April 2020 Editors

ECB officials, worry that the lock down due to coronavirus pandemic and the subsequent recession will trigger another surge in non-performing loans (NPLs). Bank of Greece reportedly expects NPE ratio to climb by 4%-11% due to Covid-19 crisis.

State loans that will partially not be repayed?

21 April 2020 Editors

Returnable Deposit scheme. along with a new Guarantee Fund for Small and Medium Enterprises and a program for subsidizing interest for loans paid on time, will cover 500 500 thousand enterprises.