Spectator on facebook

Spectator on facebook

NBS: Slovak banks hold €500 million in Greek bonds

Slovakia's banking sector has invested a total of €500 million in Greek bonds, according to data from the central bank (NBS) as of May 31, NBS executive director for financial market supervision Vladimir Dvořáček said on Tuesday, June 28.

Slovakia's banking sector has invested a total of €500 million in Greek bonds, according to data from the central bank (NBS) as of May 31, NBS executive director for financial market supervision Vladimir Dvořáček said on Tuesday, June 28.

"The exposure to Greek bonds isn't too high; it represents 0.91 percent of the overall balance in the Slovak banking sector," Dvořáček said, as quoted by the TASR newswire. He stated that the sum would not represent a risk to the Slovak banking sector even if Greece were to undergo a so-called soft bankruptcy, which involves writing off part of its debts.

The NBS doesn't expect money to flow away from Slovak banks to parent banks abroad that hold larger volumes in Greece. According to Dvořáček, the central bank at the beginning of the crisis in 2008 introduced a liquid-assets ratio of below 30 days. This ratio prevents the free transfer of liquidity from taking place, he pointed out.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Revitalised industrial building offers work, entertainment and housing

Mlynica is an excellent example of successful conversion of unused industrial building.

Mlynica

Czech PM files lawsuit against Slovakia at ECHR

Czech Premier Andrej Babiš sues his homeland in the European Court for Human Rights in connection with records proving his collaboration with the communist-era secret police.

Andrej Babiš

For a Decent Slovakia organise another protest for June 22

At the same time, they are suing ex-PM Robert Fico, in response to his statements made during the protest rallies in February, citing fear-mongering and defamation.

For a Decent Slovakia represenattives - L-R: Lukáš Füle, Karolína Farská, Juraj Šeliga and Veronika Bruncková - filed a suit against ex-PM Robert Fico June 15.