According to Bloomberg from sources with knowledge of the matter, 3 of the 4 systemic Greek banks will pump 5.4 billion euro from the first auction of the program TLTRO ECB in order to enhance lending to businesses and households.
In particular, as stated by a senior member to the international agency, the National Bank will seek to derive 1.6 billion Euro in the first auction of the long-term program of targeted trade finance ECB made in September, while the goal of Piraeus is to derive 2.75 billion euro. Another source reportedly revealed to Bloomberg that Eurobank will require 1 billion euro.
Alpha Bank, the fourth largest bank in Greece will not participate in the auction in September but is not impossible to take part in one of December, according to the Chief Financial Officer Mr. Vasili Psalti.
This ECB lending program is part of the package of the Bank to extend credit to individuals and businesses to stimulate growth. According to the same publication that refers to elements of the BoG, in Greece lending to the private sector fell by 3.7% in July, after the 3,5% fall in June.
The administrations of Greek banks had a deadline until yesterday afternoon to declare to the Bank of Greece if they want to participate in the first auction of the program TLTRO ECB. The second auction will take place in December, and have eligible collateral of 1.8 billion euro.