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ECB lowers ELA cap for Greek banks as liquidity conditions improve ATHENS: The European Central Bank lowered on Thursday the ceiling for emergency liquidity assistance (ELA) Greek lenders can tap from the Greek central bank to 89.1 billion euros from 89.7 billion euros, a banking source said. "The ELA cap was lowered due to conditions and inflows normalising," the source told Reuters, speaking on condition of anonymity. Greek banks, who were shut for three weeks over the summer, have relied on emergency funding in recent months after a wave of deposit outflows. Copyright Reuters, 2015 ...

Russia's VTB signs 12bn yuan trade finance agreement with CDB MOSCOW: Russia's VTB Bank said on Thursday it had signed a 12 billion yuan ($1.9 billion) trade finance agreement with China Development Bank (CDB), aimed at helping clients at both institutions fund bilateral import and export operations. The agreement was signed during a visit to Beijing by Russian President Vladimir Putin. Copyright Reuters, 2015 ...
Low inflation back in focus at ECB policy meeting FRANKFURT: The European Central Bank may have to consider fresh policy measures to prevent deflation in the single currency area, but will not move at its meeting Thursday, analysts said. "After all the Greek excitement over the summer, the ECB had probably been hoping for a very ordinary and dull meeting this week; to slowly move from vacation into business mode," said ING DiBa economist Carsten Brzeski."Unfortunately, financial markets did not meet the ECB's wishes. ...
UniCredit plans German growth but not by takeovers FRANKFURT: UniCredit Chief Executive Federico Ghizzoni on Wednesday said his group's German branch HVB had plans to expand in Germany but not through acquisitions. Ghizzoni ruled out any interest in Postbank, owned by Deutsche Bank. Deutsche Bank aims to sell Postbank on the stock market as part of a group restructuring plan. "We have no plans for acquisitions but we have a clear plan to expand our business" in Germany, he said at a conference. ...
Polish central bank keeps rates flat, in line with forecasts WARSAW: Poland's central bank on Wednesday kept its benchmark interest rate unchanged at 1.50 percent, in line with the expectations of analysts polled by Reuters. The central bank, which announced in March it was ending an easing cycle, also kept its lombard rate flat at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent. The bank's rate-setting Monetary Policy Council will hold a news conference at 1400 GMT. Copyright ...
Romania central bank's FX reserves rise to 29.3bn euros BUCHAREST: The Romanian central bank's foreign exchange reserves, excluding 103.7 tonnes of gold, rose by 189 million euros to 29.34 billion euros ($33.05 billion) at the end of August, it said on Tuesday. Inflows were 654 million euros and accounted for changes in the foreign exchange minimum reserve requirements and inflows into finance ministry and the European Commission's accounts. Outflows totalled 465 million euros. The central bank said payments to service external public and publicly ...
Bank of Portugal turns to 2nd bidder for Novo Banco after talks fail LISBON: The Bank of Portugal has ended negotiations with a potential buyer of state-rescued Novo Banco after failing to reach an agreement, saying that it will now start talks with the second-placed bidder for the bank. "As no agreement has been reached, the Bank of Portugal decided today to end those negotiations and invite the second-placed potential buyer into negotiations," the bank said in a statement on Tuesday. Sources have told Reuters that the first-placed ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln