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Greece's NBG says ECB approves 120 million eur capital actions
November 16, 2015 / 5:33 PM / 2 years ago

Greece's NBG says ECB approves 120 million eur capital actions

ATHENS, Nov 16 (Reuters) - Greece’s National Bank said on Monday the European Central Bank’s Single Supervisory Mechanism (SSM) approved 120 million euros of capital actions that reduce the bank’s capital shortfall.

National Bank said that as a result its shortfall under the ECB’s stress test baseline scenario now stood at 1.45 billion euros and its gap under the adverse scenario was 4.48 billion euros.

The SSM also approved the bank’s plan to issue contingent convertible bonds (CoCos) that will be repaid after the sale of its Turkish unit Finansbank, NBG said. (Reporting by George Georgiopoulos)

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