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  1. Pressing economic tasks mounting up for next Greek government

    EconomyProgramme

    funding with a cash value of 20 billion would not be ECB-eligible as of March. ELA for banks Three... to Emergency Liquidity Assistance (ELA) funding. The BoG in turn requested approval from the ECB... with access to ELA funding, albeit at a higher cost of 1.55 percent as against the 0.05 percent

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  2. 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... not applied for the ELA. That request was mainly triggered by deposit outflows and gradual lack of renewal... with the BoG ELA, albeit at a higher cost of 1.55 percent compared to 0.05 percent for the ECB. T

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  3. S&P acts in wake of ECB decision and downgrades Greek rating to B-

    Economy

    to lender-of-last-resort financing (ELA), potentially resulting to Greece’s exclusion from... to switch their ECB funding to ELA, although the continuity of ELA funding to Greek banks, including

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  4. Greece's imminent funding problems: All the numbers you need
    Photo by MacroPolis

    EconomyProgramme

    of February 18, when the last ELA extension was approved by the ECB. Note that Greek banks may place T-Bills for ELA funding (as they could with the ECB before February 11) for an amount up to 3.5... of 3.5 billion on T-Bills that Greek banks may place with ELA funding. At the moment there is nothing

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  5. Reported widening of revenue shortfall in Feb as liquidity worries persist

    Economy

    . On a separate issue, Kathimerini daily reported that the untapped ELA funding of Greek banks, which... to increase the ELA limit by 500 million to 68.8 billion. Deposit outflows have ceased since the February 20 Eurogroup decision, which means that Greek banks have an ELA liquidity buffer of 3 billion

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  6. Newsletter 18 - 06/03/2015

    Newsletters

    extension of emergency liquidity assistance (ELA) funding access. As a result, Greek banks could... ceiling of 3.5 billion that Greek banks can place for ELA funding. This means that even.... The increase reflects a rise in ECB funding by 26.21 billion to 82.24 billion. In addition, ELA

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  7. Eurobank posts loss of 523.7 mln in Q4 2014
    Photo by MacroPolis

    EconomyBanking

    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... securities, Eurobank could replace ELA with ECB funding for the 3 billion related to pillar III

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  8. Alpha Bank net losses rise to 440mln in Q4 2014, NPL ratio at 33 pct
    Photo by MacroPolis

    EconomyBanking

    of 2 billion. The February breakdown showed ELA funding at 17.6 billion and ECB funding at 4.8 billion with the bulk (4.2 billion) related to EFSF bonds. The bank also noted it has additional ELA collaterals of around 10 billion on top of the February ELA figure. The management noted the bank holds T

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  9. National Bank posts net loss of 1.1 bln in Q4
    Photo by MacroPolis

    EconomyBanking

    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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  10. 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.... The latter is made up by ECB funding of 9.8 billion (primarily EFSF bonds) and ELA funding of 15.6 billion. The bank noted it has a liquidity buffer of more than 12 billion mostly for ELA funding. The Basel

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