Greek banks set for early ELA return in apparent precautionary move

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Greek banks set for early ELA return in apparent precautionary move

Economy 16/01/2015 - 10:54 Tags: Banking, BoG, ECB, Liquidity

Kathimerιni daily revealed on Friday that two of the four systemic banks have submitted requests to the Bank of Greece (BoG) for raising liquidity of 5 billion euros through the Emergency Liquidity Mechanism (ELA), while the other two are expected to follow suit in the coming days.

Banking sources told Kathimerini that this development reflects diminishing liquidity in the domestic market following deposit outflows of 3 billion euros in December, a process which is continuing in January, as well as the much higher participation of...

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