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ELA

ECB Lowers ELA Ceiling for Banks

The Governing Council of the European Central Bank approved a request by the Bank of Greece to lower the ELA-ceiling for Greek banks to 51.1 billion euros, up to and including Wednesday, November 16, 2016. The reduction of 700 million...

ECB's Draghi Wants Debt Relief for Greece, States Concern

European Central Bank Chief Maria Draghi expressed concern about the sustainability of the Greek debt and said that assessment on the debt was necessary before Greece could participate in the Quantitative Easing Program. "Discussions on the sustainability of the...

ECB Lowers Emergency Funding Caps for Greece to 51.9 Billion Euros

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from Bank of Greece by 0.9 billion euros to 51.9 billion euros. According to a report by Greece's central bank released on Thursday, the lowering...

ECB Lowers Emergency Liquidity Assistance to Greece

The Bank of Greece announced that the European Central Bank had lowered the cap on emergency liquidity assistance (ELA) that Greek banks draw from the domestic central bank by 4.4 billion euros to 52.8 billion euros ($59.6 billion). The...

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...

Greek Banks Further Cut Borrowing from ECB, ELA in February

Greek banks in February further reduced their dependence on borrowing from the European Central Bank and the Emergency Liquidity Assistance mechanism of the Bank of Greece. The central bank said that borrowing from these mechanisms at the end of February...

ECB Lowers ELA Ceiling for Greek Banks by 7.8 Bln Euros‏

European Central Bank on Thursday significantly lowered the borrowing ceiling for Greek banks through the Emergency Liquidity Assistance mechanism (ELA). The ECB approved a recommendation by the Bank of Greece to lower the ELA ceiling by 7.8 billion euros to...

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...

ECB Lowers Emergency Liquidity Assistance to Greece

The Governing Council of the European Central Bank has decided to further lower the Emergency Liquidity Assistance (ELA) ceiling for Greece, the Bank of Greece said in an announcement, on Thursday. The new ELA ceiling now stands at 86.9 billion euros. “The reduction of...

Piraeus Bank Re-Initiates Interbank Repo Activity‏

, In a statement made on Monday, Piraeus Bank said its customer deposits totaled 38.1 billion euros at the end of September, of which 34.5 billion deposits were in Greece. The bank said that economic and political conditions in Greece showed signs of...