Bank

Legally imposing the conversion of credits from Swiss francs to lei or other currencies could result in bankruptcy for several banks; such a normative act should clearly specify who takes the losses generated by the conversion of a different exchange rate than the current one, says Nicolae Cinteza, the director of the Surveillance Department of the National Bank of Romania (BNR, the central ban

Greek banks are better prepared than in 2012 and a possible outflow of deposits will be manageable, according to a Fitch Ratings analysis. However the international firm noted that local lenders will face a greater risk from any prolonged political and economic uncertainty and a delay in reaching an agreement with the country?s creditors.

Liberal MEP Theodor Stolojan says that the recent speech of Finance Minister Darius Valcov about Romanian holders of Swiss franc loans "was incredibly arrogant" and asserts that the solution to the issue could be individual, if the banks relax the terms for the debtors, or collective - in the opposite situation.

Photo credit: (c) ADRIAN CUBA/ AGERPRES ARCHIVE

By George Georgiopoulos

Greece's central bank has moved to protect its banks from any fallout from the coming general election, asking the European Central Bank to approve a stand-by domestic emergency funding line, a Bank of Greece official said on Saturday.

Loan rescheduling and bank-specific conversion and appreciation offsetting programs are two solutions to the issue of Swiss franc loan holders, identified at the January 16 meeting of Finance Minister Darius Valcov with the leaders of the National Bank of Romania (BNR).

Bank of Cyprus has completed the third phase of its share capital increase with its retail offer to shareholders, it said on Tuesday.

The bank said it received applications for 567,188 shares at 0.24 euros per share, totaling 136,125 euros.

 Senior officials say best-case scenario will see growth drop from 2.9 to 2.5 percent, and loan issues shrink

By Yiannis Papadoyiannis

The early general election and the ensuing freeze of economic activity will lead to fewer loan issues and a lower growth rate in 2015, according to bank officials? estimates.

In 20 work days, since December 4, the Bulgarian Deposit Insurance Fund (BDIF) has paid off 90% of the insured deposits at the Corporate Commercial Bank (KTB, Corpbank), or BGN 3 250 000 000, according to BDIF Chair Radoslav Milenkov.

Bulgaria guarantees bank deposits of up to EUR 100 000.

 Outflow of deposits still manageable, but any unilateral moves could see local lenders starved of cash

By Yiannis Papadoyiannis

The issue of cash flow in Greece will be among those to be discussed during Wednesday?s scheduled board meeting of the European Central Bank, with Greek central banker Yannis Stournaras informing his peers of liquidity conditions in this country.

By Nicholas Comfort

Europe?s biggest banks have limited risk tied to Greece after selling local units and cutting holdings of the country?s bonds, according to JPMorgan Chase & Co.