Vote into
law is expected on Saturday evening
By NEKTARIA STAMOULI
Oct. 30, 2015 5:14 p.m. ET
0 COMMENTS
ATHENS—Greece unveiled its bank recapitalization framework
Friday and is expected to vote it into law Saturday evening, hours after the
European Central Bank releases results of its health check on the country’s
four big banks.
This will be the third capital increase of the country’s
battered lenders since Greece’s debt crisis erupted in 2010 and has to be completed
by the end of the year, before the deposit bail-in instrument becomes effective
at the beginning of 2016.
According to the draft bill, the lenders will be able to use
common or preferred shares, as well as other financing instruments to be bailed
in.