European Officials Mull Eased Terms for Greece in Bailout (NBG)
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National Bank of Greece (NYSE: NBG) is active Wednesday following headlines that lenders might look to extend maturity dates on rescue loans to 50 years while cutting the interest rate on previously issued aid by 50 basis points.
Bloomberg said that the plan would include a loan package worth somewhere between €13 billion and €15 billion. Lawmakers are expected to review the plan in May or June of this year.
So far, Greece has received €240 billion in two bailouts and has had some terms eased by the International Monetary Fund and euro-zone lenders.
On the news, Greek 10-year bond yields fell 33 basis points this morning to 7.96 percent.
Current stress tests on Greek banks have the institutions keep core tier 1 capital ratio at 9 percent of risk-weighted assets, though Greek officials content the benchmark is too high. That aversion has led to delays in the assessment process for Greek banks, which is aimed at determining how much aid the institutions will need.
National Bank of Greece shares are up 1.4 percent.
Bloomberg said that the plan would include a loan package worth somewhere between €13 billion and €15 billion. Lawmakers are expected to review the plan in May or June of this year.
So far, Greece has received €240 billion in two bailouts and has had some terms eased by the International Monetary Fund and euro-zone lenders.
On the news, Greek 10-year bond yields fell 33 basis points this morning to 7.96 percent.
Current stress tests on Greek banks have the institutions keep core tier 1 capital ratio at 9 percent of risk-weighted assets, though Greek officials content the benchmark is too high. That aversion has led to delays in the assessment process for Greek banks, which is aimed at determining how much aid the institutions will need.
National Bank of Greece shares are up 1.4 percent.
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