“Greek banks do not need additional stress test”

“Greek banks do not need additional stress test”

Athens, February 15, 2016/Independent Balkan News Agency

By Olga Mavrou

The head of the European Central Bank’s supervisory agency Daniele Nouy  was quoted to say  that “Greek banks will not need further recapitalization, after the latest round provided them with 14.4 billion euros of funding. The capital plans have been fulfilled, so there is no need for additional capital requirements. We are in good shape in that respect”. This statement was made to the Greek newspaper “Agora”.

Mrs Nouy also said that Greek banks would be excluded from the ECB’s stress tests this year, because they had already gone through “rigorous health check”. She also said though, that there is a problem with the bad loans.

The Bank of Greece, which supervises the  portfolio of 14 “bad banks”  has managed to recover only 10% of the non performing loans.