ELA
Economy
ECB Maintains ELA Cap at 88.6 bln; Greek Banks Closed Until Wednesday
An agreement among the Eurozone leaders was not enough to persuade the Governing Council of the European Central Bank to give the green light for a much needed increase of the Emergency Liquidity Assistance to Greece, according to Reuters.
Greek...
Greece
ECB Officials Uncertain About Greece
While Greece is expected to submit its detailed proposals for a new bailout deal today, two European Central Bank officials are being cautious about the prospect of an agreement.
Prior to the European Central Bank Governing Council decision on Wednesday to...
Economy
ECB Keeps Greek Banks' ELA Frozen but Increases Haircut
The European Central Bank (ECB) kept Emergency Liquidity Assistance (ELA) steady for Greek banks but adjusted the haircut on the collateral the lenders offer as security, the ECB said on Monday.
Statement from the ECB:
The Governing Council of the European Central Bank...
Economy
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...
Greece
Tsipras' Dramatic Call to Europe: "Restore the ELA to Greek Banks"
Greek Prime Minister Alexis Tsipras made a dramatic call to Europe to increase its Emergency Liquidity Assistance (ELA) to Greek Banks, in order for Greece not to turn to chaos.
The European Central Bank (ECB) did not kept the financial...
Economy
ECB Freezes Level of Emergency Support to Greek Banks
The Governing Council of the European Central Bank made a decision Sunday to freeze the level of emergency liquidity assistance to Greek banks.
The emergency liquidity assistance (ELA) currently stands at just under 90 billion euros ($100 billion), the Associated...
Economy
ECB Reportedly to Stop Emergency Assistance to Greek Banks
The European Central Bank (ECB) will stop providing Emergency Liquidity Assistance (ELA) to Greece, the BBC reports, citing unnamed sources.
The end of emergency lending to Greece's banks might come as soon as Sunday - a move that could force them...
Economy
ECB Assesses Greek banks' Liquidity Condition on a Daily Basis
A European Central Bank board teleconference meeting on Thursday reassessed liquidity conditions in Greek banks.
Bank sources told ANA-MPA that the Bank of Greece "took as much ELA it requested." However, there is no official information over if and how much...
Economy
Banknote Circulation Falls to June 2012 Levels, Bank of Greece Reports
Banknote circulation has fallen to June 2012 levels following a massive cash withdrawal from bank deposits, a Bank of Greece (BoG) report said on Tuesday.
The report noted that the biggest part of deposit outflow was in cash, while the Greek central...
Economy
ECB Approves Additional Liquidity for Greek Banks
According to Reuters the European Central Bank (ECB) raised emergency funding for Greek lenders for the third time in less than a week.
The Governing Council increased the cap on Emergency Liquidity Assistance in a telephone conference on Monday, and...