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European Central Bank Lowers ELA Cap for Greek Banks

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) that Greek banks draw from the domestic central bank by 300 million euros to 33.6 billion euros, the Bank of Greece said Thursday. The ELA ceiling is valid...

Tsipras to Varoufakis: Let's Take the €16 Bln of the European Central Bank

"What? There are 16 billion euros in cash scattered here and there, and we do not use them to load ATMs and make them work as normal?" Greek Prime Minister Alexis Tsipras told then finance minister Yanis Varoufakis in...

Bloomberg: European Central Bank Unlikely to Include Greece in QE Soon

The European Central Bank is unlikely to include Greek bonds in its quantitative easing (QE) program for the foreseeable future, a Bloomberg report says. The ECB decision is based on the reluctance of European creditors to offer Greece substantial debt...

European Central Bank to Accept Greek Bonds as Collateral

The European Central Bank has once again agreed to accept Greek bonds as collateral for loans in order to aid the country's struggling banks, says a Financial Times report. The move comes after Wednesday's agreement between Greece and creditors that...

European Central Bank Lowers ELA for Greece Ahead of Eurogroup

The European Central Bank (ECB) has lowered the borrowing ceiling to Greek banks by 300 million euros on Thursday. The Emergency Liquidity Assistance mechanism (ELA) was lowered to 69.1 billion euros on Thursday, the ECB said after accepting a request made...

European Central Bank Gives Breath of Liquidity to Greek Banks

The European Central Bank gave a breath of liquidity to Greek banks after Thursday's decision to include them in its quantitative easing program and the purchase of EFSF bonds. The decision constitutes an indirect capital boost, from which banks can...

European Central Bank in Line With IMF on Greek Reforms

The European Central Bank is in line with the International Monetary Fund on the need for deep reforms in Greece, ECB executive board member Benoit Coeure said on Tuesday. "We fully agree with the IMF on the need for a...

European Central Bank: "Greece Still in Jeopardy of Defaulting"

The European Central Bank (ECB) noted that even though after July Greece's expectations to default diminished, the stakes are still high due to concerns over an early and full implementation of the third bailout  program. For what concerns the Eurozone...

European Central Bank Decreases ELA Ceiling for Greece

The European Central Bank (ECB) has decided to further lower the ceiling for Emergency Liquidity Assistance to Greece, the Bank of Greece (BoG) revealed. The new ceiling now stands at 86 billion euros. “The reduction of 0.9 billion euros in...

European Central Bank: Greek Banks Need Up to 14.4 Billion Euros

The European Central Bank has assessed that the four systemic banks of Greece need at least 4.4 billion euros and up to 14.4 billion euros to cover their capital shortfalls. In the comprehensive assessment test released on Saturday morning the ECB revealed the extent...

European Central Bank Further Lowers Emergency Liquidity Assistance to Greece

The Bank of Greece announced on Thursday that the Governing Council of the European Central Bank decided on Wednesday to decrease the Emergency Liquidity Assistance level for Greece from 88.9 billion euros to 89.1 billion euros. “This 0.2 billion euro reduction in...

European Central Bank Decreases ELA to Greece

The European Central Bank Governing Council decided on Thursday to reduce the Emergency Liquidity Assistance to Greece down to 89.1 billion euros. The approximately 600 million euro decrease comes after a first 700 million euro decrease in August. Greek banks are expected...

European Central Bank Approves Reopening of Athens Stock Exchange

The European Central Bank (ECB) approved on Tuesday a modified plan, submitted by the Greek government, to reopen the Athens Stock Exchange (ASE), a month after it was shut down due to capital controls. The ECB's final recommendation is that transactions by foreign investors will...

European Central Bank Official: 'Greek Debt to ECB Cannot be Restructured'

Greek debt held by the European Central Bank cannot be restructured as that would amount to the ECB financing a government, which is explicitly banned by European Union rules, ECB governing council member Christian Noyer said on Monday. According to...

European Central Bank Holds the Trigger in Greece Deadlock

The European Central Bank is the institution that can be forced to pull the trigger on Greece if negotiations with creditors do not lead to an agreement, says a Financial Times report. Greek banks rely entirely on the ECB to...