SSM, SRB Heads Received by Greek PM, BoG Gov., Bank Reps

Greek Prime Minister Kyriakos Mitsotakis on Friday received the chair of the Single Supervisory Mechanism (SSM), Claudia Buch, and the chair of the Single Resolution Board (SRB), Dominique Laboureix, at his Maximos Mansion office.

According to reports, discussions touched on the “great progress” in the country’s domestic bank sector over the past few years, rending the latter on more stable foundations.

Additionally, de-investment in Greece’s four systemic banks by the Hellenic Financial Stability Fund (HFSF) through public offerings and greater prospects by the local banking sector in financing “real economy” needs was also discussed.

Both European banking officials were also received by Bank of Greece (BoG) Gov. Yannis Stournaras and other central bank executives, as well as with representatives of Greece-based credit institutions, the Hellenic Bank Association (ΗΒΑ) and government officials.

“We had an excellent meeting with Claudia Buch, Dominique Laboureix and our colleagues. We discussed all issues that fall within our remit in a climate of mutual trust and excellent cooperation,” Stournaras said afterwards.

As expected, regulatory issues and future prospects of Greece’s systemic banks were discussed.

Buch, thanked the BoG governor and its supervisors for their commitment and very productive and honest collaboration since the start of ECB banking supervision 10 years ago. “Good European collaboration in the banking union and strong supervision have played a decisive role in the progress made by the Greek banking sector,” she said.

“This visit is a good example of the excellent cooperation between the European authorities on the one hand and the national authorities on the other – it is vital to have this close collaboration in order to protect financial stability. The Greek banking sector has come a long way since the financial crisis. This is a good news story, even if we must always remain vigilant,” Laboureix added.