Market liquidity

Athens-listed construction company Avax SA removed the initials J&P from its name on Wednesday, signaling a new start independent of the bankrupt Cypriot group.

The objective of the Greek company is to avoid any negative connotations and to reposition the group during what is a difficult financial juncture for Avax.

Public Power Corporation is reducing its electricity bill discount for consistent customers as of April, as well as the prepayment discount, due to its increasing financial woes.

The Central Bank of the Republic of Turkey (CBRT) on Feb. 16 lowered reserve requirement ratios to provide more liquidity in domestic markets.

Spokesman of the National Bank of Romania (BNR) Dan Suciu turned critical on Darius Valcov, economic advisor to the Prime Minister, saying that the latter's suggestion that the formula used to calculate the interbank offered rate ROBOR should be changed or that the benchmark rate should be removed all together proves he is in serious confusion about the money market and its role in the

Main opposition leader Kyriakos Mitsotakis discussed developments in the Greek banking system during a meeting with the Hellenic Banking Association (HBA) on Thursday.

The two sides focused on protecting primary residencies from foreclosures and managing non-performing loans, the impact of technology in the banking sector and providing liquidity to the real economy, HBA said. 

The European Central Bank has lowered the ceiling on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 900 million euros to 4 billion euros, the Bank of Greece said on Thursday.

The move reflected improved liquidity conditions, taking into account private sector deposit flows and banks' access to wholesale financial markets, it said.

Greece's first real estate investment company (REIC) set up entirely by foreign funds has received an operating license from the country's Capital Market Commission. Called Orilina Properties, the firm is a vehicle of US investment group Brevan Howard for penetrating the local market.

The European Central Bank lowered the ceiling on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 100 million euros to 4.9 billion euros ($5.60 billion), the Bank of Greece said on Thursday.

Greek lenders are well capitalized and maintain buffers that could absorb additional credit losses, Bank of Greece governor Yannis Stournaras said on Friday at a conference organized by the central bank to mark its 90th anniversary.

Measures to be taken on parities, liquidity and foreign exchange reserves against macroeconomic risks were discussed at the first Financial Stability and Development Committee (FİKKO) meeting under the chairmanship of Treasury and Finance Minister Berat Albayrak on Nov. 1.