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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.