ECB sets higher capital hurdle for Greek banks in stress tests

[unhappycamper]

http://www.ekathimerini.com/202462/article/ekathimerini/business/ecb-sets-higher-capital-hurdle-for-greek-banks-in-stress-tests



ECB sets higher capital hurdle for Greek banks in stress tests
15:28
FRANCESCO CANEPA

The European Central Bank has set the capital threshold that top Greek banks must meet in a stress test higher than in earlier eurozone wide health checks, a source close to the matter said on Tuesday.

That would potentially require them to raise billions of euros in extra capital.

The ECB is testing Greece's four largest banks -- National Bank of Greece, Piraeus, Eurobank and Alpha -- to determine how much capital they need after the recent downturn in the Greek economy.

~snip~

Athens must enact a long list of reforms detailed in the 86-billion-euro bailout plan to unlock the funds and recapitalise its banks.

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The 'reforms' mentioned are privatizing Greek and state owned businesses.