Bank deposits grow as capital increases near
Greek lenders saw deposits rise after capital controls were eased as they prepare to rebuild their buffers battered by the economic slump, said a Bank of Greece official with direct knowledge of the matter. Deposits increased by about 1 billion euros since banks reopened on July 20, said the official, who asked not to be identified because the information is private. A European Central Bank-led review of the quality of banks’ books and a stress test will be completed by mid-October to help deter-
OLP plan problems. The government’s plan to strip Piraeus Port Authority (OLP) of its administrative and regulatory responsibilities and allocate them to new authorities rather than the independent entity set up for that purpose a year ago is likely to meet with opposition from the market, the port’s users and Brussels, observers say.