Monday, 24 August 2015

Relative reliance of Greek Banks to ECB funding is now higher than what it was in 2012.

It is no secret that the Greek banking system is (once again) heavily reliant in ECB funding. What's less obvious at first glance is that although in absolute terms, its reliance is lower that what it was at the 2012 peak, in relative terms its reliance to CB funding is now, in fact, higher.

source: Bank of Greece

No matter which yardstick one chooses to measure it against (e.g. Total Assets or GDP), the statement above stands.

source: Bank of Greece, own calculations

source: Bank of Greece

Happy times.

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