BoG, banks discuss developments in financial system

Greek banks are obliged until the end of May to submit with the Bank of Greece their programs of gradual independence from liquidity offered by the European Central Bank, under commitments taken through a memorandum signed with the troika.
Progress on the issue was discussed during a scheduled meeting on Thursday between Bank of Greece governor George Provopoulos and the managements of the country’s largest banks.

Approval of these programs by the European Central Bank and the Bank of Greece was necessary for the release of a new state guarantee package worth 30 billion euros to Greek commercial banks.

The central bank and the managements of Greek commercial banks also discussed developments in the market following a new downgrade of Greek banks by Standard & Poor’s.

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