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Oct
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Tags: banks   finance   stress test  
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Jun
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Deposit withdrawals at €100 million a day: is that a bank run yet?

The domestic deposit base in Greek banks is about €200 billion and about €100 million are being withdrawn every day (€3 billion a month).

S&P writes:

We observe that domestic customers of Greek banks have demonstrated their sensitivity to signs of deterioration in the sovereign’s creditworthiness. This is evidenced by the sizable outflows of deposits from the whole system over the past 18 months. According to Bank of Greece’s latest published data on system deposits, domestic deposit outflows from corporations and households for the system amounted to €13 billion in the first four months of 2011 (or 5% of the system’s domestic deposit base as of year-end 2009), compared with €28 billion during the whole of 2010 (or 12% of the system’s domestic deposit base as of year-end 2009).

If we can assume that the deposit flight is exponential, the curve that best fits the little data provided above is shown in this graph (figures in € billion):

The stock of greek domestic deposits would be the following over the next 12 months (figures in € billion):

That would represent an additional €50 billion capital flight by June 2012 (assuming that the panic would not trigger faster deposit withdrawals).

See this google spreadsheet on capital flight from Greek banks for more details.

(Source: zerohedge.com)

Tags: finance   banks   greece   euro   europe   bank run   deposits  
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Dec
27th
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Tags: internet   fraud   credit cards   banks   cambridge  
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Oct
15th
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Tags: foreclosure   finance   mortgage   banks  
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Sep
27th
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Tags: finance   moral hazard   hedge funds   banks  
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Jul
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Tags: finance   shadow banking   banks   deflation   deleverage  
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Jun
26th
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It prevailed in a bidding war for Greece’s Emporiki, a money-losing, government-owned lender. A senior Crédit Agricole executive said at the time that the deal reflected “the confidence we have in the Greek economy and the superior growth of the Greek banking sector.
Tags: greece   banks   credit agricole   europe   finance   euro  
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Jun
13th
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Tags: banks   finance  
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Jun
8th
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Forbe’s Bob Lenzner shows us exactly how warped the bailed out banking sector has become: Bob notes that Six giant banks made $51 billion in profits last year, while the rest of the banking industry — the other 980 banking institutions — all lost money.
Tags: finance   banks  
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