Search
-
Eurosystem funding down by 2 bln in Oct for fourth straight fall
EconomyMacroeconomywill increase their EFSF holdings. At the same time, the ELA funding of Greek banks edged up by 0.41... the slightly higher utilisation of ELA funding, Greek banks reduced the respective collaterals pledged... the decrease in the preceding three months, which was due to lower Emergency Liquidity Assistance (ELA) usage
26% -
The conundrum of Greek olive oil exports
EconomyFeaturesof olive oil for export, beautifully packaged to attract the international market. But even finding... gourmet products which are winning awards. The recognition they get might spur a change in economic
24% -
Referendum and the ECB to determine the future of Greek banks
EconomyThe ECB Governing Council decided yesterday to maintain the Emergency Liquidity Assistance (ELA... decision on an increase on the haircut applied to ELA collaterals. This means that Greek banks will continue operating with the ELA liquidity of last Friday which is estimated close to 90 billion
23% -
Greek banks see Eurosystem funding drop to lowest level since 2009 in September
EconomyMacroeconomybillion at the end of August. There as a small rise in ELA funding to 1.64 million from 0.63 million..., reflecting a reduction in ECB funding by 20.66 billion and ELA funding by 9.79 billion. The significant... is the lowest reading since November 2009. Since May, when the Emergency Liquidity Assistance (ELA
23% -
Greece prepares set of proposals for bridging deal with eurozone
PoliticsGreek Politicsto the Emergency Liquidity Assistance (ELA). After a decision last week, Greek banks cannot resort to ECB for funding using government guaranteed securities. However, they can resort to the ELA mechanism... from its European institutional lenders (52.9 billion from bilateral loans and 141.8 billion from
23% -
Greek banks' Eurosystem funding sees reduced drop of 334 mln in July
EconomyMacroeconomybillion euros. The Emergency Liquidity Assistance (ELA) funding rose by 0.91 million to 1.55 million... this year was the elimination of ELA funding in May. It has remained below 4 million euros since... to the ELA mechanism were eliminated to zero in June from 9.8 billion in December 2013.
23% -
Greece's imminent funding problems: All the numbers you need
EconomyProgrammeof 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
23% -
Funding needs take centre stage in row between New Democracy and SYRIZA
Economyeliminated ELA funding. In addition, it is already widely known that the largest part of Greek banks’ ECB..., Greek banks could resort to the Emergency Liquidity Assistance (ELA) mechanism of Bank of Greece (BoG) to address this liquidity issue. Greek banks used the ELA facility heavily in 2012 with a peak
23% -
How Greek banks can balance on the collateral tightrope
Agora(ELA) funding. Based on the latest official BoG figures, Greek banks used ELA funding of 74.4 billion... used ELA funding of 76.5 billion by that date. This is higher by 2 billion on the end-April figure... haircut Assuming that the ECB will continue providing ELA funding to Greek banks since they remain solvent
22% -
What higher ECB haircuts on collateral could mean for Greek banks' liquidity
Economythe 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... funding purposes. Overall, the nominal value of the currently available ELA collateral amounts to around
22%