ECB supervisory board head Nouy again reiterates need to reduce Greek banks’ NPLs
The head of the European Central Bank’s (ECB) supervisory board, Danièle Nouy, met separately on Monday with Bank of Greece (BoG) Gov. Yannis Stournaras and the top executives of Greece’s four systemic banks and the banking association’s leadership, with the credit institutions’ balance sheets under scrutiny.
According to banking circles who spoke after the meeting in Athens, nothing new was agenda of talks, the first such contacts after February 2018 “stress tests” on Greece’s thrice-recapitalized banks were concluded by the European Central Bank (ECB).
Nouy reiterated, as she has done many times before, that non-performing loans (NPLs) burdening Greek banks’ balance sheets must be reduced. As such the sell-off of NPLs portfolios should be stepped up, as well as assets.
In terms of the looming end of the third bailout in August, Greek banks will have to return to the market for inter-bank borrowing, a development that is expected to increase their operational costs.
You may be interested
“Athens is one of the last cities in Europe that can still be old, weird & chaotic”Panos - Jan 17, 2019
At a time when the mainstream narrative is all about how Greece’s ‘best and brightest’ minds have been fleeing the…
Which Greek island was a top trend for Americans in 2018?Panos - Jan 17, 2019
The Greek island of Mykonos is among the global destinations that have seen the largest increase in demand for air…
F-22 vs. F-35: Which Stealth Fighter Wins in a Shootout?Panos - Jan 17, 2019
The U.S. Air Force’s original plan was for the F-22 to be its high-end air superiority fighter while the F-35…