Single Supervisory Mechanism

"Bulgaria is on the final stretch on the road to the Eurozone". This was stated by Iliya Lingorski from the BNB Board of Directors during a forum dedicated to the advantages for business and the economy of the adoption of the euro.

Greece's four systemic banks showed high profitability of 3.7 billion euros last year, against losses of €4.7 billion in 2021, while also recording one of the highest net interest margins among European banks.

Greek banks will undergo capital stress tests in order to get the green light from the European Central Bank's supervisory mechanism to distribute dividends to shareholders, the head of the Single Supervisory Mechanism (SSM) board, Andrea Enria, told Kathimerini.

Bank of Greece Governor Yannis Stournaras met on Thursday with Andrea Enria, chair of the Supervisory Board of the European Central Bank's Single Supervisory Mechanism (SSM).

Enria met with Stournaras and other members of the Bank of Greece's administration, as well as with representatives of the managements of Greek banks and the Hellenic Bank Association.

Cyprus banks have made progress, but more must be done for them to be on a par with other banks in the European Union and at their current level of development, according to a report by the Single Supervisory Mechanism (SSM) of the European Central Bank.

The Governing Council of the ECB today officially gave the green light for the exploratory phase of the project

National Bank of Greece (NBG) announced on Tuesday that it had entered into a definite agreement with Bain Capital Credit for the sale of a Romanian-risk corporate nonperforming exposures portfolio ("Project Danube") with a total gross book value of around 174 million euros.

The Bank of Greece is working on a plan for the creation of a "bad bank" to which all nonperforming loans (NPLs) of banks will be transferred. The central bank intends to present the plan to the banks, the government and the European Central Bank's Single Supervisory Mechanism (SSM) by end-May.

European Central Bank Vice President Luis de Guindos warned on Monday in Athens that the high level of nonperforming loans held by Greek banks represent the soft underbelly of the country's economy, stressing that all instruments should be used for their reduction.

The negotiations concerning the provision of additional guarantees by the Greek state so as to have the senior notes issued by banks in the context of the Hercules asset protection scheme considered risk-free are heading toward a positive conclusion, sources have told Kathimerini.