BoG: Greek private sector deposits increased in June

Monday, July 31st, 2017
Last Update: 08:39
Greek private sector deposits increased in June by €1bn mom to €120.4bn, driven by €0.3bn increase for corporate deposits and c€0.8bn increase for household deposits according to data announced by Bank of Greece.Credit growth in June fell by 1.8% yoy after a 1.6% yoy fall in May, driven by negative flows for both the corporate and household sectors, b) With a draft law amendment, Greek State provides Greek banks carrying State prefs the right to repay them with cash or exchange them with Tier 2 securities (in favor of Greek State) of 10 years maturity (or with combined use of cash and exchange).

In the event of an exchange, the securities will carry a coupon equal to the average 10yr bond yield (average yield of the first 15 days of June 2017 (the range was between 5.4% and 6% according to Reuters data) plus 50bps spread.

The coupon cannot be less than 6%. The securities will be repaid before the 5 year mark, if a capital related event occurs or at the discretion of the issuer post the 5 year mark. The securities can also be transferrable and tradable in a regulated market.

See Also:

Thank you for contacting

Thank you for your enquiry to Villas, in partnership with ISV. Our Villa Experts will get back to you very soon with more information on your Greece villa holiday!

The contact form was not sent. Please contact us via email at [email protected]

All form fields are required.

If you want to add, edit or delete a Business page, CLICK HERE to create a Account