Tags: additional billions, bailing itself out, Greece, Piraeus Bank, systemic banks
It’s been a while since we checked in on Greece. So how are things at the former political and economic dysfunction capital of Europe? A little bit good and a bunch of bad.
Greece’s four big, systemic banks will need another €5.8 billion ($8.0 billion) to shore up their fragile balance sheets, the country’s central bank said Thursday, in order to cope with a growing mountain of bad loans that have become another painful legacy of Greece’s protracted debt crisis.
In a statement, the Bank of Greece said the four banks— National Bank of Greece SA, Piraeus Bank SA, Alpha Bank AE and Eurobank Ergasias SA—would need to present plans by mid-April detailing how they would raise that capital, such as by selling assets, going to the capital markets or appealing for further state aid.
Where is the bright side, you might ask? Well, option no. 2—going to the capital markets—appears to possible once again, at least for one of the banks. Read more »
Tags: didn't need that 10% anyway, insignificant matters, nothing to see here, Stepan Kubiv, Ukraine
Notwithstanding the tens of thousands of Russian troops, widespread separatist protests (and more!) and being 10% lighter than they used to be: You needn’t worry about a thing. Read more »
Tags: Banamex, Citigroup, isolated incidents, John Gerspach, repetition
Mike Corbat and co. guess they’ll have to look at everything after Citi’s recent bout with Montezuma’s Revenge, even though they’re quite sure all’s well now. Read more »
Tags: distancing, Euromoney FX Survey, JPMorgan Chase, Morgan Stanley, UBS, wastes of time
UBS, like JPMorgan Chase and Morgan Stanley before it, has struck upon the idea that if it’s not in the Euromoney FX league tables, regulators won’t notice all of the (allegedly) illegal currency-related things it does. Read more »
Tags: Citi, Jack Lew, Michael Froman, Nathan Sheets, Robert Rubin, Stanley Fischer, vast conspiracies, Vikram Pandit
During their very, very short times at the helm of the nation’s most boring bank, Robert Rubin and Vikram Pandit apparently devised and implemented a brilliant and nefarious plan to seize the levers of power in Washington. Read more »
Tags: Barclays, energy trading, Layoffs
The last handful of traders standing at the power-trading desks are standing no more. Read more »