Post by alanbond on Apr 17, 2015 23:09:44 GMT 4
The central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and the Former Yugoslav Republic of Macedonia have all forced the subsidiaries of Greek banks operating in those countries to bring their exposure to Greek risk (bonds, treasury bills, deposits to Greek banks, loans etc.) down to zero in order to shield themselves and minimize the danger of contagion in case the negotiations between the Greek government and the Eurozone do not bear fruit.
Special care was taken for the subsidiaries of Greek lenders, which have a major presence in neighbouring states, to make sure that they would not proceed to new positions in Greek bonds, T-bills, deposits in Greek banks or interbank funding. The Greek government recently put press pressure on banks to think how they could get around the European Central Bank’s ban on the acquisition of more T-bills.
www.zerohedge.com/news/2015-04-17/greek-bank-quarantine-abroad-sparks-european-selloff
Special care was taken for the subsidiaries of Greek lenders, which have a major presence in neighbouring states, to make sure that they would not proceed to new positions in Greek bonds, T-bills, deposits in Greek banks or interbank funding. The Greek government recently put press pressure on banks to think how they could get around the European Central Bank’s ban on the acquisition of more T-bills.
www.zerohedge.com/news/2015-04-17/greek-bank-quarantine-abroad-sparks-european-selloff