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  1. NBG raises 300 mln from SME loan securitisation in first such Greek transaction since 2007
    Photo by MacroPolis

    EconomyBanking

    at the same time its reliance on the Emergency Liquidity Assistance (ELA) funding. From the peak of around 18 billion euros in July 2015, the bank said it has reduced ELA funding by almost two-thirds... Eurosystem funding stood at 20.8 billion euros in mid-May, of which 11.2 billion relate to ELA

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

    Economy

    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. On Wednesday, ECB raised the ELA limit for Greek banks by 1.5 billion to 75.5 billion. In addition, the ELA

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  3. How Greek banks can balance on the collateral tightrope
    Photo by MacroPolis

    Agora

    (ELA) funding. Based on the latest official BoG figures, Greek banks used ELA funding of 74.4 billion... decided on May 12 to lift the ELA cap for Greek banks by 1.1 billion to 80 billion. Banking sources indicated that the ELA cash liquidity buffer stood at 3.5 billion euros, implying that banks have

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  4. Eurosystem funding for Greek banks up by 3.56 bln in May to reach 116.4 bln
    Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

    EconomyMacroeconomy

    billion eurps almost entirely stems from a rise in the Emergency Liquidity Assistance (ELA) funding... recapitalisation process and can still be placed with the ECB for funding purposes. The increase in the ELA funding in May is similar to the increase of 3.3 billion in the ELA limit that was decided

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  5. After 'No' vote, pulling Greek banks back from brink a priority
    Photo by MacroPolis

    Economy

    in the Emergency Liquidity Assistance (ELA) limit for Greek banks. Press reports initially noted that the ECB... the ECB Governing Council convened for the last time on Greece, it decided to keep the ELA limit unchanged, while further postponed an increase in the ELA collateral haircut. Although, Greek banks

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  6. Capital controls in Greece? A response to Professor Sinn
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    Agora

    for the Eurozone (EZ) to provide sufficient liquidity, say via Emergency Liquidity Assistance (ELA) under... that lacks liquidity, simply because ELA has reached an arbitrary upper bound? Third, Professor Sinn misrepresents facts in a couple of aspects related to Cyprus. The increase in ELA for the Cypriot

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  7. Eurosystem funding falls by 625 mln in Mar, banknotes in circulation rise by 120 mln
    Photo by MacroPolis

    EconomyMacroeconomy

    in Emergency Liquidity Assistance (ELA). ECB funding in March came to 8.36 billion euros, along with 19 million in ELA funding. In January, the BoG had announced that it would discontinue the publication of its regular ELA-ceiling bulletin as the level had fallen below 2 billion euros. The total

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  8. Revenues at 4.77 bln in Oct, beating target for fourth straight month

    Economy

    The final budget execution to October confirmed preliminary figures, released by the Ministry of Finance (MoF) on November 13, showing revenues beating monthly targets by 763 million euros for the fourth straight month. The year-to-date previous revenue shortfall, which peaked to 1.61 billion euros

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  9. Tax chief's departure brings coalition revenue plans under scrutiny
    Photo by MacroPolis

    PoliticsGreek Politics

    euros. #Greece new unpaid taxes at €763 mln in Apr (from €1.21 bln in Mar) & at €4.33 bln year

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  10. Budget execution shows primary surplus of 711 mln, 503 mln ahead of target

    EconomyMacroeconomy

    period. This implies an average figure exceeding 1 billion per month. Although the April figure of 763

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