Posts tagged 'EFG Eurobank Ergasias'

The OC (of Greek covered bonds)

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

Learn more

| Subscribe to Tracy's posts
| Feb 20 15:57 | Comment |

Eurobank recently lowered the over-collateralisation (OC) of its second covered bond programme to the bare minimum allowed by Greece’s covered bond law. Avid covered bond-watchers (there must be a handful of you out there) will know of course, that specially designed legal frameworks are one of the big perks of the covered bond structure – along with juicy benefits like an overstuffing of assets and the dual recourse nature of the centuries-old debt instruments. Read more

Greek debt swap — spot the missing banks [updated]

Joseph joined FT Alphaville way back in March 2010. He likes all the politically and legally fiddly bits of finance. He also likes credit, rates, global macro, tail risk, and all that stuff. (You should email him story ideas. He’ll take anything.)

Learn more

| Subscribe to Joseph's posts
| Jul 25 2011 13:50 | Comment |

 Read more

RBI to acquire stake in PRB

| Feb 04 2011 05:18 | Comment |

Raiffeisen Bank International has agreed to pay €490m ($668m) for a majority stake in Poland’s Polbank, highlighting the emerging Europe-focused lender’s push into central Europe’s largest economy, reports the FT. RBI said it would acquire 70% of the Polish retail and SME lender from Greece’s EFG Eurobank Ergasias and would then merge it with RBI’s existing corporate banking franchise. Eurobank will remain a minority shareholder in the merged entity, which will become Poland’s sixth-largest commercial bank by assets. Read more

Moody’s downgrades five Greek banks

| Mar 31 2010 15:49 | Comment |

Moody’s on Wednesday downgraded the deposit and debt ratings of five Greek banks, citing “a weakening in the banks’ stand-alone financial strength and anticipated additional pressures stemming from the country’s challenging economic prospects in the foreseeable future.”

It’s worth remembering that the rating agency’s power over the Greek sovereign was lessened by the European Central Bank’s decision to keep the minimum credit threshold for eligible collateral at BBB- beyond the end of 2010. Still, the banking downgrades will do little to boost investor confidence. Read more