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ELA

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...

European Central Bank Further Lowers Emergency Liquidity Assistance to Greece

The Bank of Greece announced on Thursday that the Governing Council of the European Central Bank decided on Wednesday to decrease the Emergency Liquidity Assistance level for Greece from 88.9 billion euros to 89.1 billion euros. “This 0.2 billion euro reduction in...

European Central Bank Decreases ELA to Greece

The European Central Bank Governing Council decided on Thursday to reduce the Emergency Liquidity Assistance to Greece down to 89.1 billion euros. The approximately 600 million euro decrease comes after a first 700 million euro decrease in August. Greek banks are expected...

ECB Does Not Alter ELA to Greece

The European Central Bank decided on Wednesday for the second straight week to keep Emergency Liquidity Assistance to Greece at around 91 billion euros. The decision was expected considering that the Greek government seems to not have made any formal requests for an...

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...

Greece's Banks Likely to Remain Closed for Another Month

 Although capital controls were only meant to restrict citizens' financial movements for a week, last night Greek Prime Minister Alexis Tsipras hinted that the banks could remain shut for another month. "The reopening of banks depends on the sanctioning of...

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...