The Real Greek Bank Stress and Why It Doesn't Matter—Yet
Interbank funding for Greek banks has collapsed
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It is no secret that Greek banks have been losing deposits in recent months. Data released by the Greek central bank show deposits have plunged to their lowest level in 10 years.
Corporate and household private sector deposits fell by €23.8 billion between the end of November 2014 and the end of February 2015, a drop of 15 percent of the total deposit base. Despite this loss, there is still €140.5 billion in private sector deposits at Greek banks.