Single Supervisory Mechanism

Bulgaria's central bank said on Monday that 10 of the Black Sea state's 22 commercial banks would have to adopt extra protective capital buffers as Sofia seeks to join the euro bloc, reports Reuters. 

The second-quarter financial results published by the National Bank of Greece (NBG) on Friday reflected the gradual strengthening of operating profits and of liquidity, and the achievement of the target for the reduction of nonperforming exposures for the entire 2018 already from the first half of the year.

Fourteen companies are now licensed by the Bank of Greece to operate in the domestic debt management sector, after the approval on Tuesday of applications from LPN Capital and Melfin. The intense interest seen over the past two years stems from the acceleration of sales to specialized companies of large portfolios of bad loans.

Fourteen companies are now licensed by the Bank of Greece to operate in the domestic debt management sector, after the approval on Tuesday of applications from LPN Capital and Melfin.

The intense interest in the sector over the past two years stems from the acceleration of sales of large portfolios of bad loans to specialized companies.

Alpha Bank and Eurobank are set to complete the sales of three portfolios of nonperforming loans valued at 4.7 billion euros by end-2018, bringing the total face value of loans unloaded by the country's four systemic banks above 20 billion euros (including interest).

Finance ministers of Eurozone countries and the European Central Bank, ECB, on Thursday welcomed Bulgaria's intention to "put in place the necessary elements for a successful entry into ERM 2" - the so-called "waiting room" for the Eurozone.

Single Supervisory Mechanism (SSM) chief Daniele Nouy held talks with the heads of the country's four systemic banks on Monday. The discussions centered around the intensification of efforts to reduce bad-loan stocks, streamlining bank finances, financing the economy and the lenders' corporate governance.

The head of the ECB's Single Supervisory Mechanism (SSM), Daniele Nouy, completed a two-day visit to Athens on Tuesday, during which she met with Greece's central banker Yannis Stournaras and representatives of lenders to discuss the health of the country's banking system.

The chief of the ECB's Single Supervisory Mechanism (SSM), Daniele Nouy, is in Greece for a two-day visit starting Monday, according to reports.

Nouy is expected to meet with Bank of Greece governor Yannis Stournaras and representatives of the country's lending institutions in the wake of the successful stress tests.

Greek banks are stepping up efforts to rid themselves of nonperforming loans, planning to put portfolios with a total face value of 13.5 billion euros up for sale within 2018.

The bulk of that amount, or 9.7 billion euros, is expected to have been transferred by the end of the year's first half, while another 3.8 billion is set to be offered in the second half.