European Central Bank on Wednesday approved an additional two billion euros in liquidity to Greek banks through the Emergency Liquidity Assistance (ELA) mechanism of the Bank of Greece, raising the mechanism’s ceiling to 78.9 billion euros, from 76.9 billion last week.
The ECB’s board meeting has not yet reached any decision over a possible higher haircut of collaterals used by the Greek banks for funding from ELA. The board could reach a decision later on Wednesday.
Sources said that several ECB members supported the view that a decision on the issue should be taken next week.
(source: ana-mpa)
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