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ELA

National Bank of Greece Ends Need for European Aid

The National Bank of Greece (NBG) is the first Greek bank to have entirely eliminated its dependency on the European Central Bank's Emergency Liquidity Assistance (ELA), bringing its ELA borrowing to zero, sources said on Friday. Greece's Athens-Macedonian News Agency...

Piraeus Bank to Quit European Aid in 2018

Piraeus Bank has significantly reduced its reliance on the European Central Bank's Emergency Liquidity Assistance (ELA), and plans to fully eliminate it in 2018, its CEO has told Bloomberg. The bank ends 2017 with NPL stock below €20 billion ($24.4...

ECB Lowers Funding Cup for Greek Banks by €1.1 Billion

The European Central Bank lowered the cap on Emergency Liquidity Assistance (ELA) Greek banks draw from the domestic central bank by 1.1 billion euros to 25.8 billion euros, the Bank of Greece said on Thursday. The move reflected improved liquidity...

Alpha Bank Analysis Sees Return of Confidence in Greek Economy

A gradual return of confidence in the Greek economy following the completion of the second review is becoming increasingly apparent, according to a report by Alpha Bank economic analysts on Saturday. This returning confidence was reflected in the improvement...

How Two Years of Capital Controls Hurt Greek Trade

It was June 27, 2015 when the finance minister at the time, Yanis Varoufakis, and the Greek government decided to impose capital controls in the midst of negotiations with creditors over the country's bailout. Two years ago on this date, Greek...

ECB Lowers ELA-Ceiling for Greek Banks by 100 Mln Euros

The European Central Bank on Thursday approved a request by the Bank of Greece to lower the ELA-ceiling for Greek banks by 100 million euros to 46.5 billion euros up to and including Wednesday, May 17, 2017. The Greek central...

ELA for Greek Banks Dropped 700 Mln Last Month

Greek banks lowered their borrowing from the ELA mechanism and the Eurosystem in March to 59.7 billion euros, from 61.9 billion in February, the Bank of Greece said on Tuesday. The central bank, in its monthly accounts said Greek banks’...

ELA Borrowing Ceiling for Greek Banks Unchanged

The borrowing ceiling from the ELA mechanism for Greek banks remained unchanged, the Bank of Greece said on Thursday. The Governing Council of the ECB, in a meeting on April 5, 2017, did not object to an ELA-ceiling for Greek...

ELA Borrowing Ceiling for Greek Banks Remains Unchanged

European Central Bank's governing council on Thursday approved a request by the Bank of Greece to maintain the ELA borrowing ceiling for Greek banks to 46.3 billion euros, up to and including Thursday, March 9, 2017. The unchanged ceiling reflects...

Second Review Delay 'Credit Negative' for Greek Banks, Moody's Reports

A delay in concluding a second review of the Greek support program threatens to put at risk the restructuring programs of Greek banks, Moody's Credit Rating said in its Credit Outlook weekly report released on Monday. Moody's said that...