Greek deposits climb to 161 billion euros

Greek bank deposits rose slightly in November after a five-month decline but private sector credit kept shrinking, central bank data showed yesterday, as deep recession saps demand for loans. Data showed businesses and household deposits rose to 161.04 billion euros from 160.38 billion euros in October, the rise mainly the result of interbank deposits. Bank lending to the private sector shrank 3.8 percent year-on-year, the pace of contraction slowing slightly from 3.9 percent a month earlier. Loans to businesses, a narrower measure in the private

The Purchasing Managers Index (PMI) in Greek manufacturing reached the highest point in the last four years in December, as compiling company Markit said the reading for last month was 49.6 points, against 49.2 in November, showing the index is about to rise above the 50-point level of zero growth in the sector. sector overall figures, declined 4.7 percent after a 4.8 percent drop in October, the Bank of Greece said. Lending to households and private nonprofit institutions shrank 3.5 percent, unchanged from the previous month.

Debt repayment.

T-bills.

State debtors may arrange their obligations through new payment plans requiring monthly installments from as little as 15 euros, provided they pay their debts within a 12- to 24month period and pay their first installments within three days of starting the plan, according to a decision issued yesterday by Greece’s general secretary for public revenues, Haris Theoharis.

Greece will auction 1.25 billion euros of six-month Treasury bills on Tuesday to refinance a maturing issue, the Public Debt Management Agency (PDMA) announced yesterday. The set- tlement date will be Friday, January 10. Only primary dealers will be allowed to participate and no commission will be paid. Monthly T-bill sales are Greece’s sole remaining source of market funding. Athens has a stock of about 15 billion euros of T-bills that it regularly refinances with the help of crisis-struck Greek banks.

Cypriot savings.

Consumers’ and companies’ deposits rose in Cypriot banks in November, the first increase in 17 months on the island where big account-holders in the two largest lenders were forced to take a hit as part of an international bailout last year. Private sector deposits rose by 0.8 percent to 35.4 billion euros after a 1.3 percent fall in October, European Central Bank data showed yesterday. The deposits are still 30 percent below their peak of 50.5 billion euros in May of 2012.