Market liquidity

By Marcus Bensasson and Rodney Jefferson

When his plane touches back down in Athens, Greek Prime Minister Alexis Tsipras will be quickly reacquainted with reality.

Bulgarian prosecutors on Wednesday brought criminal charges against three officials who had conducted audits of Corporate Commercial Bank from January 2009 until the bank's collapse in June 2014.  

By Alexis Papachelas

We, ordinary citizens, are either experiencing a possibly fatal misunderstanding or we are lacking the full picture with regard to developments in the ongoing negotiations between Greece and the country?s partners and creditors.

By Prokopis Hatzinikolaou & Evgenia Tzortzi

The Finance Ministry has already used 1.9 billion euros from the cash reserves of general government entities at the Bank of Greece or in state securities to ease the government?s liquidity problems and pay salaries, pensions and the state?s obligations to the country?s creditors.

In February 2015 the profit of the banking system was BGN 196 million, up by BGN 47 million on the year, according to the Bulgarian National Bank (BNB).

In the February 2015 the banking system's liquidity position continued to build up and the balance sheet capital and deposit base grew.

Ratings agency Fitch has downgraded Greeces sovereign rating amid growing uncertainty over the new government's pledge to overhaul reforms needed to restart bailout loan payments and avoid default.

The agency late on Friday said it had lowered the country's rating deeper into non-investment grade status from B to CCC, citing «extreme pressure on Greek government funding."

By Ben Moshinsky

The Bank of England will assess the danger from a shortage of market liquidity as it warned of threats to financial stability from events such as the crisis in Greece.

 March 30 is the date when liquidity reserves will turn negative unless some money comes from Europe

By Sotiris Nikas

Following Wednesday’s meeting in Frankfurt, the European Central Bank decided to increase only by 400 million euro the loan limit from ELA.

As was noted in the meeting, the available balance on pumping liquidity of temporary liquidity mechanism ELA is approximately 3 billion euro.

However, the new loan limit of Greek banks will be reconsidered in next week’s new ECB meeting.

Greece sold 1.3 billion euros ($1.38 billion) of three-month Treasury bills on Wednesday, covering the amount it sought to raise to refinance a maturing issue in its third successful auction this month amid a cash crunch.

The paper was priced to yield 2.70 percent, unchanged from a previous sale on March 11, the country's debt agency PDMA said.