Greek Banks' Capital Needs at 6.4 Bln Euros - C-bank
Greek commercial banks need 6.4 billion euro in additional capital to withstand potential losses in the future, according to a baseline scenario, the Bank of Greece said, as quoted by the Athens News Agency - Macedonian News Agency.
A round of stress tests conducted by BlackRock system showed that the Greek banks' estimated capital needs in the June 2013 - December 2016 period will be covered by capital buffers already incorporated in the exercise, banks’ mitigating actions and the untapped part of the Hellenic Financial Stability Fund’s backstop facility, Greece's central bank said, as quoted by the news agency.
The Bank of Greece asked the banks to submit by mid-April at the latest their capital enhancement plans and relevant timeline on the basis of the capital needs under the baseline scenario.