Bank of Greece
Emergency central bank funding to Greek banks dropped in November compared to the previous month, Bank of Greece data showed on Wednesday.
Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 2.7 billion euros ($3.06 billion) from 3.58 billion euros at the end of October, the data showed.
The Benaki Museum's Pireos Street annex presents a retrospective exhibition on the great Greek painter Yiannis Moralis (1916-2009), organized in cooperation with the Greek National Gallery, the Cultural Foundation of the National Bank of Greece and Zoumboulakis Galleries, with the support of the painter's family.
Moody's views the Bank of Greece plan to manage nonperforming loans as a credit positive development for the country's lenders. The rating agency said in a report on Thursday that the plan will also improve the quality of banks' asset portfolios thanks to the reduction in the rate of deferred tax credits.
Oversold bank stocks staged a remarkable rebound in Thursday's bourse session, with Alpha and National announcing a return to profit in July-September at the end of the trading day. The Athens Exchange (ATHEX) was also buoyed by rallying international markets, the drop in Greek bond yields and a favorable report by Moody's on the Bank of Greece proposal for slashing bad loans.