Single Supervisory Mechanism

The low per-capita income on average represents the biggest issue regarding Romania's real convergence in view of joining the Eurozone (EZ), however, it's not a a formal criterion for euro accession, experts with the European Central Bank (ECB) believe.

Bad loans worth 30 billion euros are being prepared for transfer to the asset protection scheme (APS) that the Finance Ministry is creating.

This is twice the original amount provided for, a development that highlights the government's resolve to tackle the problem of banks' nonperforming exposures.

All four major Greek banks are expected, sooner rather than later, to issue Tier 2 bonds, even those which have already done so.
The total value of the bonds will depend on the Single Supervisory Mechanism's setting of Tier 1 capital requirements at the end of the year, but is estimated to come to 2.5 billion euros, including nearly a billion each for Alpha and Piraeus.

It is expected today to publish the results of the European Central Bank's (ECB) audit of the stability of the banking system in the country. Yesterday the BNB announced that they coincide with the data established by the National Treasure Supervision.

The ECB's assessment of six major banks working in the country has to show whether they can resist external as well as internal risks. Stress tests are already running and are due to the demand for Bulgaria to enter the Eurozone waiting room (ERM II mechanism) and the Banking Union, the 24-hour newspaper writes.

The new three-year plans aimed at cutting bad loans to be presented to the Single Supervisory Mechanism by banks at end-March will be bolder and more front-heavy.

State Minister Alekos Flambouraris, representatives of the Hellenic Bank Association, and the CEO's of Greece's four systemic banks finalised details of the new framework for the protection of debtors' primary residence from foreclosure.

Piraeus Bank has formally secured an extension from the European Central Bank for the coverage of its 500-million-euro corporate bond that will count toward its Tier II capital.

Kathimerini understands that the ECB's Single Supervisory Mechanism (SSM) has given Greece's leading bank in assets a nine-month extension from the original deadline of December 31.

Single Supervisory Mechanism (SSM) officials are increasing pressure on local banks to expand their auctions of debtors' properties to include main residences valued at less than 100,000 euros.

The Bank of Greece's plan for the reduction of nonperforming loans through the utilization of the deferred tax assets received provisionally positive feedback from Greek bank managers on Thursday.