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Stress Testing of the Greek Banking System

Author

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  • Faidon Kalfaoglou

    () (Bank of Greece)

Abstract

In 2005, the IMF conducted a Financial Sector Assessment Programme for the first time in Greece which included a stress testing exercise for the banking system. The aim of the exercise was to evaluate the ability of the Greek banking sector to cope with possible risks to the financial system. While the exercise concentrated on credit and market risks, liquidity and contagion risks were also considered. The purpose of the present article is to present the results of the exercise. The analysis of the results of the exercise suggests that Greek banks did have the ability to deal with both internal and external shocks, suggesting that the system as a whole was, at least at that time, in a position to deal with the kind of shocks examined. Such stress testing exercises have now been introduced on a regular basis.

Suggested Citation

  • Faidon Kalfaoglou, 2006. "Stress Testing of the Greek Banking System," Economic Bulletin, Bank of Greece, issue 27, pages 43-62, July.
  • Handle: RePEc:bog:econbl:y:2006:i:27:p:43-62
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    File URL: http://www.bankofgreece.gr/BogEkdoseis/econbull200607.pdf
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    Citations

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    Cited by:

    1. Costas N. Kanellopoulos, 2012. "Employment and worker flows during the financial crisis," Economic Bulletin, Bank of Greece, issue 36, pages 31-41, April.
    2. Costas N. Kanellopoulos, 2014. "The private sector Greek labour market during the crisis," Economic Bulletin, Bank of Greece, issue 39, pages 21-36, July.
    3. Petros M. Migiakis, 2012. "Reviewing the proposals for common bond issuances by the euro-area sovereign under a long-term perspective," Economic Bulletin, Bank of Greece, issue 37, pages 43-54, December.
    4. Costas N. Kanellopoulos, 2012. "The Size and structure of uninsured employment," Economic Bulletin, Bank of Greece, issue 37, pages 23-41, December.
    5. Zacharias Bragoudakis & Dimitrios Sideris, 2012. "Do retail gasoline prices adjust symmetrically to crude oil price changes? the case of the Greek oil market," Economic Bulletin, Bank of Greece, issue 37, pages 7-21, December.
    6. Vasiliki Makri, 2015. "What Triggers Loan Losses? An Empirical Investigation of Greek Financial Sector," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(3-4), pages 119-143, july-Dece.
    7. Sophia Lazaretou, 2014. "The smart economy: cultural and creative industries in Greece: can they be a way out of the crisis?," Economic Bulletin, Bank of Greece, issue 39, pages 73-103, July.
    8. Dimitra Dimitropoulou & Anastasia Koutsomanoli-Filippaki & Evangelos Charalambakis & Georgios Aggelis, 2014. "The financing of Greek enterprises before and during the crisis," Economic Bulletin, Bank of Greece, issue 39, pages 7-20, July.
    9. Aikaterini Chaireti, 2014. "The housing situation of residents of Greece in the time of crisis 2008-2012," Economic Bulletin, Bank of Greece, issue 39, pages 105-141, July.
    10. Faidon Kalfaoglou, 2014. "European banking union: “Europeanising” banks’ financial safety net," Economic Bulletin, Bank of Greece, issue 39, pages 37-72, July.

    More about this item

    Keywords

    Financial Stability; Stress-testing; banking;

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