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General gov't primary cash surplus rises to 3.4 bln in Oct but arrears also growing
EconomyMacroeconomy) The elimination of the Emergency Liquidity Assistance (ELA) guarantees from 9.79 billion in December to zero as of June. That development reflected Greek banks’ zero reliance on ELA funding as of May... in September. Short-term loans relate to intra-government funding via the cash reserves of the gg
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Review completion and SMP redemptions will decide Greece's QE eligibility
EconomyProgrammeAssistance (ELA) funding for precautionary purposes. This approval was crucial for the four systemic... the Athens News Agency that ECB could extend approval of ELA funding beyond the February 28 deadline
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General gov't primary surplus halves in Q1, arrears and guarantees jump
EconomyMacroeconomystems the Emergency Liquidity Assistance (ELA) bank guarantees which climbed from zero in December.... Only in March, ELA guarantees jumped by more than 46 billion, while bank support scheme guarantees... is delaying a part of the non-payroll cost to cover its short-term funding obligations. In absolute terms
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Sharp drop in gg primary surplus by end-April, arrears keep rising
EconomyMacroeconomy(ELA) bank support guarantees. Since the beginning of the year, gg guarantees rose by 74.37 billion from the end-2014 figure of 60 billion. The YtD change is entirely attributed to a jump in ELA... to cover its short-term funding needs. In absolute numbers, arrears increased to 4.82 billion in April
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Outflows ease to 1.5 bln in July but deposits reach lowest level since May 2003
EconomyMacroeconomyAssistance (ELA) funding to 85.29 billion at the end of July. Following a request by BoG, the ECB Governing Council decided on August 18 to reduce the ELA limit for Greek banks by 1.3 billion to 89.7.... At the same time, the reliance of Greek banks on Eurosystem funding eased in July for the first time
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Greece sees deposit inflows, of 449 mln, in August for first time since Sept 2014
EconomyMacroeconomyAssistance (ELA) funding to 83.95 billion at the end of August. Over the past four weeks, the ECB Governing Council decided to lower the ELA ceiling for Greek banks three times by a total of 2.1 billion... time, Greek banks’ reliance on Eurosystem funding slipped for the second straight month by 1.23
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Newsletter 128 - 21/07/2017
population. Industrial turnover up 19 pct in May ELA funding ceiling falls by further 1.1 billion to 40.5... of the Emergency Liquidity Assistance (ELA) ceiling for Greek banks to 40.5 billion, reduced by 1.1... before the IMF approved its participation in the Greek programme with 1.6 billion euros of funding
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Inflows continue in July as deposits increase by 927 mln
EconomyMacroeconomysince May 2014. The ECB decided on August 3 to further reduce the ELA ceiling for Greek banks by a total of 1.6 billion. The ELA limit currently stands at 38.9 billion, from 91 billion in mid-July... billion. Following the recorded inflows since May, Greek banks’ Eurosystem funding fell for the 25th
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Deposit inflows rise to 1.41 bln in August, highest for 2017
EconomyMacroeconomyon September 7 to reduce the ELA ceiling for Greek banks by a further 3 million. The ELA limit currently..., and stood at 133.10 billion. Eurosystem funding fell for 26th successive month in August when... for the year so far and the highest since June 2016. As a result, central bank funding landed at 45.3
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Deposit outflow of 51.7 mln in September for banks
EconomyMacroeconomymost recent reduction in emergency liquidity assistance (ELA) came on October 7, when it was announced that the ELA ceiling for Greek banks would be reduced further by 1 billion euros to 32.6 billion... in September to come to 131.16 billion. Eurosystem funding fell by another 3.58 billion euros
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