Tuesday, May 29, 2012
The bridge recapitalization of the four largest Greek banks -National Bank of Greece, Eurobank, Alpha Bank, and Piraeus Bank- was completed yesterday with the transfer of €18 billion from the Hellenic Financial Stability Fund (HFSF), the Finance Ministry has announced.
This move restores the capital adequacy level of these banks and ensures their access to the provision of liquidity funding from the European Central Bank and the Eurosystem. The banks have now sufficient financial resources available for the support of the real economy, the announcement states.
This move restores the capital adequacy level of these banks and ensures their access to the provision of liquidity funding from the European Central Bank and the Eurosystem. The banks have now sufficient financial resources available for the support of the real economy, the announcement states.
