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Eurosystem funding drops by 2.80 bln in February, led by ELA reduction
EconomyMacroeconomy, the decline was driven largely by a fall in Emergency Liquidity Assistance (ELA) funding by 2.37... Bank (ECB) funding to 11.24 billion euros. In recent months, ELA funding has been steadily falling with the latest reduction coming on March 8, when the ECB announced that the ELA ceiling for Greek
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Newsletter 20 - 20/03/2015
assistance (ELA) funding. According to the central Bank of Greece (BoG), Greek banks’ ELA funding reached 65.6 billion euros at the end of February, up from zero at the end of 2014. The interest cost of ELA is 150 basis points (bps) above that of ECB funding. On the current level of ELA funding
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Greek banks' Eurosystem funding at lowest since Jan 2010; ELA also wiped out
EconomyMacroeconomy. In addition, the Emergency Liquidity Assistance (ELA) funding was eliminated at just 3.6 million... the year-end figure of 73 billion, which comprised at that time ECB funding of 63.2 billion and ELA... to date is directly linked to that ECB directive. The May data also showed that the ELA funding
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Eurosystem funding drops by another 3.9 bln in May, ELA down 2.1 bln
EconomyMacroeconomya decline in the Emergency Liquidity Assistance (ELA) funding by 2.08 billion and in ECB funding by 1.78 billion. ELA funding fell to 64.81 billion euros, which is its lowest level since January 2015.... Since the agreement reached at the EU Summit in July last year, ELA funding has dropped by almost
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Greek banks' Eurosystem funding jumps to 87.4 bln in Jan, ELA at 5.2 bln
EconomyMacroeconomyhighest level since August 2011. In addition, ELA funding rose from zero since May 2014 to 5.23... Greek banks (Alpha, Eurobank and Piraeus) submitted requests to BoG for resorting to the ELA mechanism... government bonds and T-Bills. On February 18, the ECB approved a further two-week extension of the ELA
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ELA funding down by 1.48 bln in July for first monthly drop since May 2014
EconomyMacroeconomyto a month-on-month drop in the Emergency Liquidity Assistance (ELA) funding by 1.48 billion euros to 85.29... zero at the end of December. The ECB had kept the ELA limit for Greek banks stable until mid-July... agreement. So, we conclude that the lower ELA use in July most likely reflects increased deposit
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ELA funding down by 1.23 bln in August for second successive fall
EconomyMacroeconomyin the Emergency Liquidity Assistance (ELA) funding for the second straight month by 1.34 billion to 83.95 billion... the ELA limit for Greek banks by 1.3 billion to 89.7 billion, on the back of improving liquidity.... On September 3, ECB decided to further lower the ELA limit by another 600 million to 89.1 billion. However
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ELA funding down by 8.6 bln in Dec for sharpest drop since July
EconomyMacroeconomyto a sharp decrease in the Emergency Liquidity Assistance (ELA) funding by 8.57 billion, at the fastest pace since July. Over the past six months, ELA funding has been trimmed by 17.86 billion... of the ELA funding was replaced by the much cheaper ECB funding largely as a result of the ESM bonds
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Greek banks push for return to normality
EconomyBankingof Emergency Liquidity Assistance (ELA). As of July, BoG noted that Greek banks’ Eurosystem funding declined... by approximately 20.66 billion. The decline in July was driven by a fall in ELA funding which went down by 2.48... million to stand at 8.18 billion. Greek banks are anticipating that reliance on ELA funding
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ELA ceiling for Greek banks slashed by 7.8 bln to 77.9 bln after recap
EconomyMacroeconomythe Emergency Liquidity Assistance (ELA) ceiling for Greek bank by 7.8 billion euros to 77.9 billion... today’s ECB decision, the ELA ceiling has been cut by a total of 13.1 billion euros since mid-August... banks’ liquidity position. According to the latest official data, Greek banks’ ELA funding stood
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