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Emergency Liquidity Assistance

European Central Bank Lowers ELA Cap for Greek Banks

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) that Greek banks draw from the domestic central bank by 300 million euros to 33.6 billion euros, the Bank of Greece said Thursday. The ELA ceiling is valid...

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...

ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros

The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece (BoG) said on Thursday. The move reflected...

ECB reduces ELA Cap for Greece Again

 The Bank of Greece announced on Wednesday that the European Central Bank decided on Tuesday to further decrease the cap for Emergency Liquidity Assistance (ELA) to Greek banks from 88.9 billion euros to 87.9 billion euros. "The 1 billion euro reduction in...

ECB Maintains ELA to Greek Banks

According to reports, the European Central Bank (ECB) decided to maintain the Emergency Liquidity Assistance (ELA) to Greek banks at the current ceiling of almost 91 billion euros. The alleged decision follows reports that the Greek government did not request further assistance...

ECB Raises ELA Cap for Greek Banks by €900 Mln

According to reports, the European Central Bank (ECB) Governing Council decided on Wednesday to raise Emergency Liquidity Assistance (ELA) to Greek banks by another 900 million euros. The ECB had raised the ELA cap by the same amount a week ago. If...

Greek Banks to Reopen on Monday

Greek bank branches will reopen on Monday according to sources, the Athens-Macedonian News Agency reported. The alleged decision follows a European Central Bank (ECB) announcement that increases the Emergency Liquidity Assistance (ELA) to Greek banks by 900 million euros. ELA had...

ECB Raises Greek Banks' ELA by €900 Million

The European Central Bank (ECB) Governing Council decided to raise the Emergency Liquidity Assistance (ELA) to Greek banks by 900 million euros. ECB President Mario Draghi discussed the decision in a press conference following an ECB Governing Council meeting on Thursday. Draghi said...

Greek Economy Minister: Banks Will Not Open This Week – Deposits Will Not Be Slashed

During an interview with Bloomberg on Tuesday, Greek Minister of Economy, Shipping and Tourism Giorgos Stathakis said that banks will reopen when the European Central Bank (ECB) raises the Emergency Liquidity Assistance (ELA) to Greece, so after the various Eurozone parliaments vote...

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...