NBG » Topics » NOTE 17: Cash and balances with Central Bank

This excerpt taken from the NBG 6-K filed Mar 1, 2006.
NOTE 17: Cash and balances with Central Bank

 

 

 

31.12.2005

 

31.12.2004

 

 

 

 

 

 

 

Cash in hand

 

514.513

 

480.786

 

Balances with Central Bank

 

1.333.710

 

336.826

 

Total

 

1.848.223

 

817.612

 

 

The Bank is required to maintain a current account with the Bank of Greece (BoG) to facilitate interbank transactions with the Central Bank, its member banks, and other financial institutions through the Trans-European Automated Real-Time Gross Settlement Express Transfer system (TARGET).

 

BoG requires all banks established in Greece to maintain deposits with BoG equal to 2% of total customer deposits as these are defined by the European Central Bank (“ECB”). As of January 1, 2001 these deposits bear interest at the refinancing rate as set by the ECB. (2,25% at 31 December 2005).

 

These excerpts taken from the NBG 6-K filed Nov 25, 2005.
NOTE 16: Cash and balances with Central Bank

 

 

 

30.9.2005

 

31.12.2004

 

 

 

 

 

 

 

Cash in hand

 

459.551

 

480.786

 

Balances with Central Bank

 

1.428.772

 

336.826

 

Total

 

1.888.323

 

817.612

 

 

The Bank is required to maintain a current account with the Bank of Greece (BoG) to facilitate interbank transactions with the Central Bank, its member banks, and other financial institutions through the Trans-European Automated Real-Time Gross Settlement Express Transfer system (TARGET).

 

BoG is the primary regulator of depository institutions in Greece. BoG requires all banks established in Greece to maintain deposits with BoG equal to 2% of total customer deposits as these are defined by the European Central Bank (“ECB”). As of January 1, 2001 these deposits bear interest at the refinancing rate as set by the ECB (2% at 30 September 2005).

 

NOTE 16: Cash and balances with Central Bank

 

 

 

30.9.2005

 

31.12.2004

 

 

 

 

 

 

 

Cash in hand

 

459.551

 

480.786

 

Balances with Central Bank

 

1.428.772

 

336.826

 

Total

 

1.888.323

 

817.612

 

 

The Bank is required to maintain a current account with the Bank of Greece (BoG) to facilitate interbank transactions with the Central Bank, its member banks, and other financial institutions through the Trans-European Automated Real-Time Gross Settlement Express Transfer system (TARGET).

 

BoG is the primary regulator of depository institutions in Greece. BoG requires all banks established in Greece to maintain deposits with BoG equal to 2% of total customer deposits as these are defined by the European Central Bank (“ECB”). As of January 1, 2001 these deposits bear interest at the refinancing rate as set by the ECB (2% at 30 September 2005).

 

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