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  1. Coalition caught between pleasing lenders and voters ahead of next troika review
    Photo by Harry van Versendaal

    PoliticsGreek Politics

    on the funding gap. Greece is on course to meet its fiscal targets and believes that with some hard work over the summer the structural side can be taken care of as well. However, the funding issue will depend... to boost lenders’ capital adequacy. The rest could be used to cover the funding gap. The Greek

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  2. In effort to reach new deal, Greek government cannot ignore liquidity constraints
    Photo by MacroPolis

    EconomyProgramme

    of Emergency Liquidity Assistance (ELA) funding to Greek banks. The initial approval was granted on January 21... bonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB decision back in March 2013. The cash value of ECB funding that has been utilized by Greek banks

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  3. Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln

    EconomyMacroeconomy

    . This funding source was utilised for the first time in Q1 2014 and relates to intra-government funding... Greek banks’ zero reliance on ELA funding as of May. However, this figure is expected to rise again... by the Hellenic Republic as collaterals for ECB funding as of February 11. The breakdown of guarantees

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  4. S&P acts in wake of ECB decision and downgrades Greek rating to B-

    Economy

    to switch their ECB funding to ELA, although the continuity of ELA funding to Greek banks, including... lenders will conclude, with sufficient official funding flows to meet financial obligations. However, S&P could lower its rating on Greece if it perceives that official funding has been curtailed

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  5. Eurobank posts loss of 523.7 mln in Q4 2014
    Photo by MacroPolis

    EconomyBanking

    international activities. Eurosystem funding rose to 12.5 billion in Q4, while jumped to 29 billion by February... outflows of 5 billion and lack of marker repos renewals of 9.1 billion. ELA funding reached 19.5 billion in February making up two-thirds of total Eurosystem funding. The bank also disclosed it has ELA

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  6. Deposit outflow rises to 4.7 bln in April as balances drop to lowest since Sept 2004
    Photo by MacroPolis

    EconomyMacroeconomy

    of Greek banks’ Eurosystem funding to 112.84 billion at the end of April, up by 68 billion on the end-November figure of 44.85 billion. Two-thirds of Central Bank funding relate to ELA funding (74.4 billion) and the remaining one-third to ECB funding (38.5 billion) almost entirely comprised by EFSF

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  7. A Greek proposal that deserves to be heard
    Photo by Harry van Versendaal

    Agora

    and repayments to the International Monetary Fund that create a major funding hump of around 24... reduce its funding needs in the mid-term and help Greece regain market access through eligibility for the ECB’s quantitative easing (QE) programme. Using European Stability Mechanism funding

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  8. How Greek banks were left on the brink
    Photo by Harry van Versendaal

    Agora

    -term external funding needs, largely payments to the International Monetary Fund and to replace...) to lift the waiver for Greek government securities, previously used for ECB funding purposes, led to Emergency Liquidity Assistance (ELA) funding exceeding 74 billion at the end of April. Greek banks also

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  9. Newsletter 36 - 24/07/2015

    Newsletters

    front, on Wednesday the ECB again raised its emergency liquidity assistance (ELA) funding for Greek... and 20. Sharp rise in Eurosystem funding Greek banks’ Eurosystem funding saw its sharpest rise... December 2012. Eurosystem funding reached 126.57 billion at the end of June, which is the highest

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  10. If it's debt restructuring you're looking for, Regling's not your man

    Agora

    billion maturing in five years and more. According to the funding operations section of the same... of different maturities. The EFSF has a total of over 199 billion euros under its funding programme... although still following the philosophy of taking advantage of the low funding costs of the short end

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