Results of Greek banks’ stress tests in May, Nouy says

Stress tests for Greek banks will be accelerated with respect to other Eurozone systemic banks in order to complete the process before the next review of the Greek programme, Danièle Nouy, the Chair of the Supervisory Board at the European Central Bank, said in a letter replying to Greek MEP Eva Kaili, a member of the Elia party.

Kaili issued an announcement on Monday citing Nouy’s reply, in which the ECB Supervisory Board chairman said that a challenge for Greek banks was the fact that the percentage of NPLs in Greece totaled 50 pct of banks’ loan portfolio, the biggest in the Eurozone. The European official said the ECB will follow the same procedures with other Eurozone banks in assessing Greek banks’ capital adequacy and solvency conditions, adding that the results of the stress tests will be released in May.

“This is a big challenge that must be resolved,” Nouy said and linked the issue with economic growth in Greece.