How the world sees Greece
Bad loans in Greek banks have reached 45 percent of loans after capital controls were imposed at the end of June, says a Kathimerini report. The percentage of bad loans was 40.8 at the end of the first quarter of 2015. A bad loan is defined as credit more than 90 days in arrears. Capital
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The Economic and Financial Affairs Council (ECOFIN) approved a 7.1-billion-euro bridge loan to Greece on Friday. The loan will be given through the European Financial Stabilisation Mechanism (EFSM) and is meant to finance Greece’s short-term obligations, including a 3.5-billion-euro bond payment to the European Central Bank (ECB) on Monday. The loan will be given in two instalments and will have to be paid back in three months.
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UK raises criticism over loan
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With all the chaos in the world these days — Greece, China, Puerto Rico, not to mention falling oil prices — investors have sought safety in bonds, driving yields down. That usually pushes mortgage rates lower. Although home loan rates dipped this week, they didn’t slide very far, according to the latest data released Thursday by Freddie Mac.Read full article
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Greece's lingering economic crisis has ground lending, especially for mortgages, to a near-half with figures showing home loans have fallen dramatically. The post Greek Mortgage Loans Fall 90% appeared first on The National Herald.
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Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million). The loans will be used to finance foreign trade and has a maturity of 1 year, said t... ...
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Dealing with the problem of nonperforming loans constitutes the local credit system’s biggest challenge now that Greek banks have successfully completed the stress tests, confirming their capital health, and the economy has returned to growth. The NPL fig... ...
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The Greek government said Monday that mortgage holders may be allowed to pay discounted rates for up to 15 years, as part of a major effort to reduce the number of non-performing loans in the bailed-out ...
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| READ THE ORIGINAL POST AT finance.yahoo.com |
ATHENS, Greece (AP) — Greece's government says mortgage holders could be allowed to pay discounted rates for up to 15 years, as part of a major effort to reduce the number of non-performing loans in the bailed-out country.
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| READ THE ORIGINAL POST AT news.yahoo.com |