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  1. Higher revenues set to ease coalition's liquidity concerns
    Photo by MacroPolis

    EconomyProgramme

    The Greek state has to imminently cover funding needs of around 1.2 billion euros this week in two... million from the Manpower Employment Organisation (OAED). The second important funding obligation... that a part of the total amount of 867 million is still available to cover upcoming funding needs

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  2. What higher ECB haircuts on collateral could mean for Greek banks' liquidity
    Photo by MacroPolis

    Economy

    of an extraordinary meeting before the end of the month and any kind of funding disbursal without Greece... the haircut applied to the collateral used by Greek banks for Emergency Liquidity Assistance (ELA) funding... of Greece (BoG), Greek banks’ cash ELA funding reached 68.51 billion euros at the end of March

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  3. National Bank posts losses of 159 mln in Q1 2015
    Photo by MacroPolis

    EconomyBanking

    is attributed to higher Emergency Liquidity Assistance (ELA) funding cost. The Greek deposit spread... at 95 percent, both remaining the best among its domestic peers. Eurosystem Eurosystem funding.... The latter is made up by ECB funding of 9.8 billion (primarily EFSF bonds) and ELA funding of 15.6 billion

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  4. Greece makes new proposals in search for deal acceptable to lenders and MPs

    PoliticsGreek Politics

    and the International Monetary Fund creating a major funding hump of around 24 billion euros over the next... reduce the funding needs in the mid-term and help Greece regain market access through eligibility... funding (similar to the buyback exercise involving privately held debt at the end of 2012) to buy back

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  5. Greek QE eligibility? We're not there yet
    Photo by ECB via Flickr https://flic.kr/p/qqjzQG

    Agora

    funding. Draghi confirmed that the ECB insisted during the last Eurogroup on August 14 that any bail... to reinstating the waiver for ECB funding. Such a development would require Greece to be in a financial... currently use for Emergency Liquidity Assistance (ELA) funding. The collateral types that would

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  6. Deposit inflows of 2.65 bln in Dec, highest positive flow since Feb 2013

    EconomyMacroeconomy

    this period. Meanwhile, Greek banks’ Eurosystem funding declined for the sixth straight month by 5.89... Liquidity Assistance (ELA) funding by 8.57 billion partly offset by a rise in ECB funding by 2.68 billion in December. The aggregate figures since July show that Eurosystem funding has been trimmed

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  7. Deposit outflows for second straight month in February, at 548 mln

    EconomyMacroeconomy

    ’ reliance on Eurosystem funding fell by 1.86 billion euros to 104.23 billion in February. The monthly change reflects a fall in the Emergency Liquidity Assistance (ELA) funding by 0.85 billion to almost 68 billion, while ECB funding eased by 1 billion to 36.34 billion. Since July, central bank funding

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  8. Marginal deposit inflows of 55 mln in March
    Photo by MacroPolis

    EconomyMacroeconomy

    government (2.28 billion). Meanwhile, Greek banks’ reliance on Eurosystem funding fell by 2.78 billion... Assistance (ELA) funding by 1.79 billion to 66.19 billion and a slower drop in ECB funding by almost 1 billion to 35.25 billion. Since July, Central Bank funding has dropped by 25.13 billion euros, primarily

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  9. Piraeus first Greek bank to repay Pillar II bonds, others to follow
    Photo by MacroPolis

    EconomyBanking

    for funding purposes. Since March 2015, those bonds can only be used for Emergency Liquidity Assistance (ELA) funding. Under the third pillar, the state had issued special bonds purchased by banks..., Pillar II bonds, which are used for ELA funding, bear a nominal interest rate of 1.55 percent (150

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  10. ECB holds off on reinstating Greek waiver, waits for completion of prior actions
    Photo by ECB via Flickr https://flic.kr/p/qhZVDy

    Economy

    are eligible for Eurosystem funding collateral This means, the total nominal amount of Greek... funding stands at 9.3 billion euros. Based on the currently applied haircut of around 45 percent... funding cost stands 150 basis points above that of ECB funding, meaning that Greek banks could benefit

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