Four Greek banks receive liquidity injection

Date: Tuesday 29 May 2012

Greece’s four largest banks, National Bank, Alpha, Eurobank and Piraeus Bank received a huge liquidity injection on Monday, distributed via bonds from the European Financial Stability Facility (EFSF).

The banks received €18bn in liquidity, with the disbursement of funds having long been planned as part of the effort to stabilise the Hellenic Republic’s largest financial institutions.

Specifically, Greek authorities gave €6.9bn to National Bank, €1.9bn to Alpha, €4.2bn to Eurobank and €5bn for Piraeus Bank. All four financial institutions will be publishing first quarter earnings this week.

MG

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