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  1. 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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  2. 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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  3. 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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  4. National Bank posts net loss of 1.1 bln in Q4
    Photo by MacroPolis

    EconomyBanking

    . As already evident in the results of the other three Greek banks, NBG’s Eurosystem funding rose... is made up by ECB funding of 9.7 billion (primarily EFSF bonds) and ELA funding of 13.3 billion. The bank noted it has a liquidity buffer of around 15 billion mostly for ELA funding with 44 percent of ELA

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  5. 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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  6. 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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  7. 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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  8. 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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  9. Banking system showed deposit inflows for second straight month, at 531 mln in Sept
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    EconomyMacroeconomy

    for almost 70 percent of that month’s outflows. At the same time, Greek banks’ Eurosystem funding... at the end of September. Over the past three months, Central Bank funding has fallen by a cumulative...) funding by 4.4 billion to 82.37 billion, while ECB funding eased by 790 million to 39 billion. Since

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  10. Deposit flow turns negative with outflows of 681 mln in Oct

    EconomyMacroeconomy

    . At the same time, Greek banks’ Eurosystem funding fell for the fourth straight month by 2 billion euros to 119.38 billion at the end of October. As a result, Central Bank funding has dropped... Liquidity Assistance (ELA) funding by 4 billion to 82.79 billion, while ECB funding declined by 3.2

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