This report is based on December 2014 data and the final production date for this report
was 12 June 2015
. The report therefore does not cover the current challenges posed by
the situation in Greece.
Nonetheless, the EBA has been disclosing bank-by-bank data on exposures towards
Greek counterparties, including detailed sovereign exposures broken down by maturity,
since 2011 as part of the EU-wide stress test and transparency exercises. Based on the
most recent supervisory data, the exposures towards Greek borrowers by the 200 major
non-Greek banks in Europe appears very limited at less than EUR20bn, or 1.4% of com-
mon equity tier 1.
The EBA has also been working with relevant competent authorities to monitor the cur-
rent situation, coordinate information flows, and facilitate cooperation on contingency ac-
tions. Based on the direct exposure data and the pre-emptive actions taken the risks of
direct contagion from the Greek situation appear to be somewhat limited. Nonetheless,
indirect channels of contagion remain a concern and will need to be monitored closely.
These channels include the impact on funding costs, asset prices, market liquidity, and
counterparty credit quality elsewhere. Continued cooperation and ex-ante coordination
of supervisory actions across all competent supervisory and resolution authorities in the
single market is of utmost importance for the management of the current crisis.