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Wondering How Big Greek Deposits Outflows Are? Just Follow The EURCHF

In the past we have repeatedly observed that in order to get an instantaneous appreciation of which direction all too critical Greek bank deposits held by the public are headed (hint: out), instead of waiting for delayed NBG data, one needs to only look at the EURCHF. As the chart below shows, the correlation between the two is essentially one. Which means that should this pair continue dropping to parity, in addition to making life for Swiss exporters a living hell and for Hungarian mortgage holders unbearable, that Greek banks will literally become hollow shells whose only lifeblood - depositor cash - is no longer there.
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Greek Bank Run Hits Record: Unprecedented €6.8 Billion In Deposits Pulled From Greek Banks In October

Business & Finance : Zero Hedge (3 years ago)

While it is no surprise that Greek bank deposits are rapidly fleeing both the country's banking system, and the country, following September's record outflow of €5.5 billion, the situation just got far worse, after October data reve... Read Post

Greek Bank Deposits Have Biggest One Month Outflow Ever In May

Business & Finance : Zero Hedge (2 years ago)

It's official: all those rumors of unprecedented deposit withdrawals in May as Greece was heading into one then another parliamentary election were true. According to just released NBG data, May deposit outflows were €8.5 billion, o... Read Post

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Business & Finance : Zero Hedge (3 years ago)

Who could have possibly imagined that in the month of June, Greek banks would see yet another major deposit outflow. Alas, according to just released NBG data, June deposit outflows by households and corporates amounted to €3.8 bill... Read Post


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