Exposure to Greece by non Greek institutions – what’s wrong?

Exposure to Greece by non Greek Banks, top five insitutions, both EBA and banks own regulatory filings

I’ve constructed an interesting dataset, looking at European Banking Authority (EBA) data and comparing it to the bank’s own regulatory filings. Curious, there are substantial differences between the view of regulators when compared to the banks themselves. For clarity I’ve also calculated the % difference.

Why so large? For three of the five banks with the biggest exposure to Greece, the differences are well above 50%, as high as 62%. Only one, Deutsche Bank, agreed with the regulatory agency’s view in their own reports. I’ll dig deeper, but this is very curious. One way it could be a disaster if the banks aren’t adequately prepared. And in the other direction, depending on how much the EBA view has been priced in, it could prove a windfall for investors who want to take on risk.

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