Household deposits drop.
capital shortfall that is not covered by private investors via a combination of new shares and contingent convertible bonds (CoCos) that banks will issue. “The new shares will have full voting rights,” the banker close to the procedure told Reuters, declining to be named. “The exact mix of CoCos and new shares will be clarified later by a ministerial decree.”
The country’s balance of bank deposits posted an increase of 557 million euros at the end of September from a month earlier. However, this was only thanks to a rise in corporate deposits, as household savings fell by 199 million euros on a monthly basis, figures from the Bank of Greece showed yesterday. The third month with capital controls in force saw deposits rise to 121.7 billion euros from 121.1 billion at the end
Room rates at Greek hotels where foreigners comprise at least 70 percent of the clientele were more than twice those of their counterparts where Greeks made up the majority of guests, according to the findings of a study by the Institute Chamber of Hotels. The average rate of the former group of hotels was 134 euros per double room per night this summer, against 58 euros for the latter.