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Greek banks face €15.5bn hit to capital under stress tests

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through Martin Arnold & Kerin Hope

Monetary Instances
Would possibly five, 2018

Greece’s 4 greatest banks would take a €15.5bn hit to their moderate capital in a long run financial downturn, in line with the result of the Ecu Central Financial institution’s pressure check of the rustic’s major lenders.

The ECB’s well being take a look at of the Greek banking machine is designed to resolve if any of the banks want further fairness sooner than the rustic enters talks on leaving its eight-year bailout programme.

Senior Greek officers mentioned the result of the workout supposed there used to be “no speedy want for a capital build up through any financial institution”. On the other hand, one authentic mentioned that whilst the banks had been out of speedy threat they had to blank up their steadiness sheets and a number of other had been more likely to carry capital quickly — particularly Piraeus Financial institution, which emerged as a laggard within the assessments.

“The strain check have long gone in addition to shall we be expecting,” mentioned one authentic, including that they’d ease Greece’s go back to borrowing on world markets.

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