Emergency Liquidity Assistance (ELA)
Greece
ECB Lowers Emergency Funding Cap for Greek Banks to €45.3 Billion
On Thursday the Bank of Greece (BoG) announced that the European Central Bank (ECB) has lowered the emergency funding cap for Greek banks to 45.3 billion euros.
The emergency funding has been a life line to Greek banks as they...
Economy
Greek Banks’ ELA Funding Drops by €1.3 Billion in November
Data released by the Bank of Greece (BoG) on Tuesday shows that in November of 2016 the country's emergency bank funding (ELA) dropped some 2.8 percent, or €1.3 billion.
The most recent numbers from the BoG show that the emergency...
Economy
Greek Private Deposits Hit Their Lowest Level Since 2004
Amid fruitless negotiations between Greece’s anti-austerity coalition government and its international creditors over the terms of the current bailout program, Greek bank deposits fell in April to 139.4 billion euros, down from 145 billion euros in March, according to data released by the European...
Economy
Bundesbank Report: Alarming Condition in Greece
Greece needs to fundamentally change its attitude in the current negotiation with its creditors, the German central bank warned in its latest monthly report on Monday.
The Bundesbank said the bailout program expiring in June cannot be continued under the...
Economy
ECB President: Greek Banks Can Continue to Rely on Emergency Liquidity Assistance
European Central Bank (ECB) President Mario Draghi gave his assurance today that the Greek banks can continue to rely on emergency liquidity assistance (ELA).
"ELA will continue to be given until Greek banks will be solvent and have adequate collateral," Draghi told journalists...