Emergency Liquidity Assistance
Economy
European Central Bank Official: 'Greek Debt to ECB Cannot be Restructured'
Greek debt held by the European Central Bank cannot be restructured as that would amount to the ECB financing a government, which is explicitly banned by European Union rules, ECB governing council member Christian Noyer said on Monday.
According to...
Economy
ECB Increases Greek Banks' ELA by a Hefty 2.3 Billion Euros
The European Central Bank (ECB) is said to have significantly increased the ceiling of emergency liquidity assistance (ELA) provided to Greek banks on Wednesday by 2.3 billion euros.
According to Greek media, during a teleconference of the central bank’s board,...
Economy
ECB Raises Greek Banks' ELA Ceiling by 500 Million Euros
The European Central Bank (ECB) has increased the Emergency Liquidity Assistance (ELA) provided to Greek banks by 500 million euros, to 80.7 billion euros from 80.2 billion, news agencies reported on Tuesday.
According to the same reports, Greece's cash buffer...
Economy
ECB Maintains Greek Banks' Liquidity Limit Amid Talk of Capital Controls
The European Central Bank (ECB) board of directors decided on Wednesday to maintain the limit through the emergency liquidity assistance (ELA) scheme to 80.2 billion euros.
In the past few weeks, the ECB kept providing liquidity to Greek banks through ELA. Last week,...
Economy
7-Billion-Euro Deposits Outflow from Greek Banks
Deposits outflow from Greek banks continued in April, reaching a total of 7 billion euros, according to Bloomberg. However, the European Central Bank (ECB) increased its emergency liquidity assistance (ELA) in order to support the Greek banks.
“The ECB’s Governing Council opted...
Economy
ECB Raises Greek Banks' ELA Ceiling to €80 Bln
The European Central Bank (ECB) decided on Tuesday to raise the lending cap for Greek banks via the Emergency Liquidity Assistance (ELA) mechanism by 1.1 billion euros, bringing the ceiling to 80 billion in total, sources said. The decision was...
Economy
Greek Βank Deposit Οutflows Eased in March
Greek bank deposit outflows showed a significant decrease in March, reducing fears regarding the country’s banking system that has suffered a shock by the enormous fund outflow recorded during the past few months.
According to the European Central Bank’s (ECB)...
Economy
ECB Alternatives on Greece Issue
The European Central Bank has three alternatives on how to deal with the Greek issue, according to a Bloomberg analysis.
The author of the report, Mohamed El-Erian, says that the ECB will be under pressure to play the important role...
Economy
Bloomberg: ECB Considers Curbing Liquidity to Greek Banks
The European Central Bank is considering measures to rein in Emergency Liquidity Assistance to Greek banks, as resistance to further aiding the country’s stricken lenders grows among the Governing Council, a Bloomberg report says.
The report cites people who have...
Economy
Draghi Dismisses Talk of a Greek Default
European Central Bank (ECB) President Mario Draghi dismissed fears of a possible Greek default. Asked about a Greek default during a regular news conference in Frankfurt on Wednesday, Draghi said: "I don't even want to contemplate that. And based on the...