Hellenic Financial Stability Fund

Banks propose electronic foreclosures

Banks are proposing that foreclosures should be done electronically in a bid to overcome the resistance put up by a growing movement blocking repossessions at courts around the country.

If adopted, the idea would mean that the physical presence of notaries - one of the main targets of protesters - would not be required.

Bank of Greece Governor blasts ex-Finance Minister Varoufakis before parliamentary committee

The Governor of the Bank of Greece (BoG), Yiannis Stornaras testified before the parliamentary enquiry committee examining the loans to Greek media, Tuesday, causing former Finance Minister Yianis Varoufakis for the harm caused on the Greek economy due to the capital controls imposed in the summer of 2015.

Mix of French, Italian, Spanish models for tackling bad loans

Bank bailout fund HFSF is proposing a mix of "Mediterranean" methods for the streamlining of overindebted enterprises, with compulsory debt/equity swaps and the expulsion of shareholders, in order to tackle the mounting problem of nonperforming loans, which come to about 100 billion euros.

Qatar National Bank to buy Turkey's Finansbank for $2.95 bln

Qatar National Bank (QNB), the Gulf Arab region's largest bank, has agreed to buy Turkey's Finansbank from the National Bank of Greece (NBG) for 2.7 billion euros ($2.95 billion), as it steps up its search for larger markets overseas. With the latest acquisition, Qatari companies have strengthened their hands in the Turkish market. 

State aid: EC approves aid for National Bank of Greece on the basis of an amended restructuring plan

The Commission concluded that the measures already implemented as part of the bank’s existing restructuring plan of July 2014, in addition to those envisaged in the amended plan, will enable National Bank of Greece to ensure lending to the Greek economy in line with EU state aid rules, in particular the “2013 Banking Communication”, and the Bank Recovery and Resolution Directive.

State aid: Commission approves aid for Piraeus Bank on the basis of an amended restructuring plan

The Commission concluded that the measures already implemented as part of the bank’s existing restructuring plan of July 2014, in addition to those envisaged in the amended plan, will enable Piraeus Bank to ensure lending to the Greek economy in line with EU state aid rules, in particular the 2013 Banking Communication, and the Bank Recovery and Resolution Directive.

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