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HomeHERCULES

HERCULES

Hercules: Two-Speed Securitisations – Wide Gap in State-Guaranteed Balances
Analysis

Hercules: Two-Speed Securitisations – Wide Gap in State-Guaranteed Balances

30 September 2026 Phil Karametos

A clear two-speed picture is emerging among the non-performing loan securitisations included in Greece’s Hercules Asset Protection Scheme

Why Greek banks are stepping up synthetic securitisations
Featured

Why Greek banks are stepping up synthetic securitisations

9 September 2026 Phil Karametos

The priority is no longer to shed the burden of legacy bad loans, but to create additional capital capacity for the next phase of growth

Inspections by the Bank of Greece for the business plans of Servicers
News

Inspections by the Bank of Greece for the business plans of Servicers

17 August 2026 Phil Karametos

Weaknesses are identified in issues of corporate governance, policy implementation, and performance monitoring

Hercules Securitisation Scheme: Which Servicers Are Delivering Faster Recoveries 
Business

Hercules Securitisation Scheme: Which Servicers Are Delivering Faster Recoveries 

10 June 2026 Editors

Significant differences are emerging in the performance of securitisations under Greece’s Hercules Asset Protection Scheme (HAPS), with some portfolios recording

Banks: Hercules’ €400 million in senior bonds were redeemed
Featured

Banks: Hercules’ €400 million in senior bonds were redeemed

22 May 2026 Phil Karametos

Banks redeemed €400 million in Hercules senior bonds in the first quarter of 2026.

Close supervision of securitizations by the State
News

Close supervision of securitizations by the State

7 April 2026 Phil Karametos

The business plans of the “Hercules” securitizations are entering a phase of intensive reassessment

What ECB Says About Hercules 
News

What ECB Says About Hercules 

26 March 2026 Phil Karametos

A comment on ECBs blog, in an article about Greece, also appears to be decisive for the market’s future trajectory.

Revenues from the “Hercules” program and new loan inclusions
Featured

Revenues from the “Hercules” program and new loan inclusions

20 February 2026 Phil Karametos

The Greek government collected approximately €293 million from commissions on guarantees it has granted for the “Hercules” program.

Securitizations that ease the burden on HERCULES
News

Securitizations that ease the burden on HERCULES

9 February 2026 Phil Karametos

Much has been written about the potential damage that the Supreme Court’s decision on the interest rate on loans covered by the Katseli Law

Manageable potential damage to Hercules
Buzz Talk

Manageable potential damage to Hercules

17 December 2025 Phil Karametos

Servicers have focused their efforts on debt restructuring, given that the revenue from auctions they had recorded as a provision in their business plans

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MOST READ

  • Piraeus Bank: Puts Four Non-Performing Loan Portfolios Up for Sale 2 November 2026
  • Eurobank Reviews CHF 580 Million Loan Portfolio as Part of Balance Sheet Clean-Up 3 November 2026
  • CrediaBank Acquires €37.4 Million Portfolio of Re-Performing Mortgage Loans in Landmark Deal for Greek Banking Market 4 November 2026
  • Loan Servicers: €18 Billion in Restructured Loans – Nearly One in Two Long-Term Restructurings Involves a Debt Haircut 29 October 2026
  • Servicers: Strong Discontent Over Withdrawal of Article 23 – Faster Debt Recoveries Now in Limbo 2 November 2026
  • Why Bad Loans Increased by €529 Million – The Two Factors Behind the Deterioration in Banks’ Loan Portfolios 27 October 2026
News Tags Comments
  • Greece’s Four Largest Loan Servicers Restructure €500 Million in Debt Through Bilateral Agreements in September
  • Piraeus Bank: €40 Million Capital Relief from €550 Million Loan Securitisation
  • The Lawyers Behind the CrediaBank–Europe Holdings Deal
  • Intrum announces the results of the tender offers for outstanding senior secured exchange notes of Intrum Investments and Financing AB
  • What Servicers Say About Article 23
  • Servicers: “Yes” from EEDADP to the new framework – Concerns regarding penalties and the risk of delays
  • Up to 28,600 euros in savings for borrowers thanks to the Ministry of Finance’s amendment
  • Loan Servicers: Maximum Fines Increased Tenfold to €5 Million – Stricter Regulatory Framework for Debt Management Companies
  • CrediaBank Acquires €37.4 Million Portfolio of Re-Performing Mortgage Loans in Landmark Deal for Greek Banking Market
  • Eurobank Reviews CHF 580 Million Loan Portfolio as Part of Balance Sheet Clean-Up
Alpha Bank attica bank auctions Bank of Greece Banks Cepal doValue Eurobank HERCULES Intrum Loans National Bank NPEs npl NPLs Piraeus Bank Qualco Real Estate servicers Supreme Court
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