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  1. Greek housing market at new juncture as Covid-19 shakes foundations
    Photo by MacroPolis

    EconomyFeatures

    ownership (property taxes rose six-fold between 2010 and 2015 according to a report by PwC), which drove... looking at the long-term drivers of the Greek property market, PwC estimated that even in an optimistic

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  2. Alpha Bank reports lower losses of 115.8 mln in Q1 2015
    Photo by MacroPolis

    EconomyBanking

    to higher Emergency Liquidity Assistance (ELA) funding cost that burdened NII by 33 million...-February). Total ELA funding cost stands at 200 basis points (bps) compared to just 5 bps for ECB funding.... The breakdown of the latter shows that ELA funding reached 20.6 billion euros and ECB funding 4.8

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  3. Newsletter 104 - 27/01/2017

    Newsletters

    a decrease in emergency liquidity assistance (ELA) funding by 1.37 billion. Greek banks’ Eurosystem funding... liquidity assistance (ELA) funding by 1.37 billion, coupled with a smaller reduction in ECB funding by around 500 million. Almost half of the cumulative drop of 43.1 billion in ELA funding since its

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  4. Deposit outflow slows to 2.19 bln in Mar as balances slip to lowest in 10 yrs
    Photo by MacroPolis

    EconomyMacroeconomy

    to ELA funding and the remaining 36 percent (38.67 billion) to ECB funding almost entirely comprised by EFSF bonds. The ECB raised on Wednesday the ELA limit for Greek banks by an additional 1.4 billion euros to 76.9 billion. By the end of March 68.51 billion of ELA had been used so the new limit

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  5. Cyprus in 2014: Looking ahead
    Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]

    Agora

    Emergency Liquidity Assistance (ELA) due to the decision to sell the assets of all Cypriot banks... for ELA that Laiki provided to its branches in Greece, leading to a precarious liquidity situation... allows for the ELA to be replaced by more long-term finance; however there seems to be a lack

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  6. Greece's extension proposals to the Eurogroup and what they mean
    Photo by Harry van Versendaal

    PoliticsGreek Politics

    Liquidity Assistance (ELA) mechanism of the Bank of Greece (BoG) for funding. However, the provision of ELA funding is approved by the ECB twice a month for a 2-week period, while ELA could..., following an March 2013 decision. This means that Greek banks will continue depending on ELA for funding

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  7. Piraeus Bank brings Q1 2015 losses down to 69 mln
    Photo by MacroPolis

    EconomyBanking

    , mostly due to EFSF bonds of 14.4 billion and ELA funding of 18.1 billion. The latter is almost equally... Emergency Liquidity Assistance (ELA) cost partly offset by the positive impact from the time deposit... ELA cost burdened Q1 NII for two months, thus its impact on Q2 is seen at higher levels. Operating

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  8. Greek banks' liquidity position at the centre of attention
    Photo by MacroPolis

    Economy

    are insolvent or pulls the Emergency Liquidity Assistance (ELA). The Finance Ministry (MoF) issued... the ELA limit for Greek banks and further postpone any decision for an increase in the haircut applied on ELA collaterals. Our analysis showed that under the current collateral valuation and haircut

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  9. Where has the money withdrawn from Greek banks gone?
    Photo by MacroPolis

    Agora

    of the limit on Emergency Liquidity Assistance (ELA), which is revised by the ECB every week, suggests the ELA funding available for Greek banks increased by 5.6 billion euros in April. This indirectly suggests a similar amount of outflows for this month. However, since the ELA cap is not fully used

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  10. Greek stock market up by 3.5 pct over week amid hope of bailout deal

    Economy

    in Riga, the European Central Bank decision to marginally increase Greek banks’ ELA funding... in the middle of next week regarding the increase of the ELA limit and a potential haircut on Greek banks’ ELA collateral. On May 20, the ECB decided to raise the ELA cap by just 200 million to 80.2

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