ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros

The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion...

Bank of Greece Chief Heralds Easing of Capital Controls for New Depositors

The easing of capital controls is so that people who keep their money at home would deposit them to banks, said Bank of Greece...

Greek HFSF Stability Fund Board Members Tender Resignations

Members of the Hellenic Financial Stability Fund have tendered their resignation to be made effective on July 18, 2016. The decision was made so...

Greek Fin Min Promises Easing of Capital Controls

Greek Finance Minister Euclid Tsakalotos announced the easing of capital controls as of next week and said that those who make new deposits in...

Ministry, BoG Propose Incentives to Deposit Hidden Stashes of Cash in Banks

The Finance Ministry and the Bank of Greece have announced that they are looking to create an exemption from capital controls for any money...

Katseli Criticizes New Corporate Governance Framework for Greek Banks

Restrictive criteria of a new law on banks' corporate governance framework imposed a one-dimensional management scheme on Greek banks, with board members having a limited...

Greece’s Bank Association Announces Capital Controls Could be Lifted by End of 2016

According to Greece's banking association Greece might be able to lift most or all capital controls by the end of the year. On Saturday, the association said that the...

Borrowers of Big Loans Who Send Money Abroad Scrutinized

Financial prosecutor Ioannis Dragatsis has started focusing on companies, entrepreneurs and general borrowers who have received bank loans of amounts of over 30 million euros...

Athens Ledra Hotel Shutting Down, Staff Unpaid and Guests Turned Away

The Greek capital's Athens Ledra Hotel is shutting down as new arrivals are being turned away and guests already in the hotel are being...

Stournaras: Eurogroup Deal on May 24 Could See Lifting of Capital Controls

Bank of Greece Governor Yiannis Stournaras said that capital controls will be lifted if a deal is made at the Eurogroup on May 24....

EC Suggests Looser Approach to Capital Controls on New Money

European Commission officials are recommending a change in Greek banking policy to reduce the impact that the imposition of capital controls has had, sources...

European Central Bank Lowers ELA for Greece Ahead of Eurogroup

The European Central Bank (ECB) has lowered the borrowing ceiling to Greek banks by 300 million euros on Thursday. The Emergency Liquidity Assistance mechanism (ELA) was...