February 6, 2023

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Four new measures for depositors and borrowers – What’s being considered – Newsbomb – News

What did he discuss? Christos Stygoras In his meeting with bank representatives

After a meeting held by the finance minister, he urged the financial system to actively contribute to the support of citizens whose incomes are under pressure due to increased cost of money due to high inflation and tight monetary policy. Christos Stygoras with bank representatives.

The minister mentioned other things The challenges are huge And the financial system should follow the policy of the government, which actually supports the income of the citizens who are under pressure, contributing in its own way in this direction.

As stated in the relevant notification, the ministry has invited the banks within a reasonable period and within the next two weeks, to submit specific proposals on the recurring issues. Acceleration of systemsSupport of informed borrowers through out-of-court settlement, increase in deposit rates and review of bank charges.

A notification issued by the Ministry of Finance said:

“The Ministry of Finance has intensified contacts with representatives of the financial sector. The aim is to find common ground in the interventions that the banking system needs to undertake in this difficult situation, to contribute its important role in the effort to support families and businesses, and to transition to a more dynamic, productive and outgoing state. .

In this case, Finance Minister Mr. Christos Staikouras today held a new meeting with the heads of the banks, representatives of the Bank of Greece and the Hellenic Banks Association, the General Secretary of Fiscal Policy, Mr. . Thanos Petralia, Special Secretary Private Credit Administration Smt. Marialina Athanasopoulos and Chairman of the Council of Financial Experts Mr. “Michael Argeiro”.

Reference is also made to what has been achieved to date as a result of this systematic, collaborative effort:

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1st Acceleration – in the last months – provisions through the out-of-court debt settlement mechanism of Law 4738/2020, in the context of managing the increase in private debt, accumulated in the last decade.

So far, 2,221 debt settlements have been implemented, totaling 406 million euros.

Approximately 65% ​​of these occurred in the last quarter. 500 new arrangements have been made in the last month alone and around 200 new arrangements in the last ten days.

2nd Reduction of interest rates in arrangements of out-of-court mechanism.

3rd. Universal approval of out-of-court settlement arrangements for Swiss franc borrowers.

In this case, during today’s new meeting, the following was discussed.

1st Deposit Scheme of Banks Vulnerable Support Program Borrowers take into account European supervisory rules, without financial costs.

The government intends to file it in the next two weeks.

2nd Submission of proposals by banks to increase recognition of claims of non-statutory mechanism related to informed borrowers.

Relevant proposals are expected to be submitted by the end of the year.

3rd. Increase in deposit rates and a reduction in lending rates that increased as a result of ECB rate hikes.

Credit institutions are expected to move in this direction individually and independently in future.

The Greek government is asking for this to be done immediately, given the huge increase in banks’ interest rates recently.

4th Reassessment of bank commission charges on normal banking transactions.

The Greek government provided a list of relevant provisions, which will be assessed individually and independently by each banking institution.

And the announcement concludes, “The Greek government made it clear to the banks’ managements that, for that, there is no question of paying bonuses to top bank executives for 2022”.

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Finally, the new meeting is set in about two weeks.

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