Tagged: ECB

Bank of Greece: ELA ceiling for banks reduced by €100 million

The emergency liquidity assistance (ELA) from the European Central Bank was reduced by a further 100 million euros, announced the Bank of Greece on Wednesday. According to the official statement “the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of €51.8 billion, up to and including Thursday, 20 October […]

ECB reportedly pressing Athens for action on massive NPLs problem

The current state and prospects for the crisis-battered Greek banking system was, as expected, as the center of talks in Frankfurt on Thursday between Danièle Nouy, who chairs the ECB’s supervisory board, and visiting Greek Finance Minister Euclid Tsakalotos. The one-and-a-half-hour meeting also reportedly focused on the still acute issue of non-performing loans (NPLs) held […]

ECB lowers emergency funding cap for Greek banks to 58.6 bln euros

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece said on Thursday. The move reflected an improvement in the liquidity conditions in Greek banks and the stabilization of private sector deposit flows, […]

ECB announces reinstatement of waiver for Greek bonds

The Governing Council of the European Central Bank announced that it will reinstate the waiver for Greek government bonds on Wednesday evening, effective as of the 29th of June. The ECB’s statement is as follows: ECB’s Governing Council reinstates waiver of minimum credit rating requirements for marketable instruments issued or guaranteed by the Hellenic Republic, […]

ECB considers the reinstatement of waiver for Greece

The European Central Bank is considering the possibility of reinstating the waiver to allow Greek government bonds to be used as collateral in ECB lending. This announcement came by ECB chief Mario Draghi on Tuesday, as he addressed the European Parliament’s Economic Affairs Committee. According to Draghi, the ECB’s governing council is considering the waiver […]

ECB considers the reinstatement of waiver for Greece

The European Central Bank is considering the possibility of reinstating the waiver to allow Greek government bonds to be used as collateral in ECB lending. This announcement came by ECB chief Mario Draghi on Tuesday, as he addressed the European Parliament’s Economic Affairs Committee. According to Draghi, the ECB’s governing council is considering the waiver […]

Greece back on ECB agenda at Vienna meeting

The ECB, expected to hold fire on monetary policy at its meeting on Thursday, will likely focus instead on welcoming Greece back into the fold of fully-fledged eurozone borrowers after a bailout deal, analysts said. European Central Bank chief Mario Draghi may well also use the lull in the bank’s unprecedented stimulus drive to remind […]

Return to markets will take some time for Greece

Whether Greece will be able to leave behind the era of successive bailout programs and return to normalcy depends on its ability to obtain consistent access to capital markets at affordable interest rates. The deal at the Eurogroup, less political uncertainty and expectations that the ECB will reinstate cheap funding for the country’s troubled lenders […]

ECB lowers ELA to Greece ahead of Eurogroup

As Greece is preparing for another Eurogroup meeting on May, to discuss its economic programme review with EU Finance Ministers, the European Central Bank (ECB) has lowered the borrowing ceiling to Greek banks by 300 million euros, reports have said on Thursday. The Emergency Liquidity Assistance mechanism (ELA) was lowered to 69.1 billion euros on […]

The ECB is set to decide the fate of the 500-euro banknote

The European Central Bank is set to decide on Wednesday the fate of the 500-euro banknote, which many people associate with money laundering, the black market and terrorist financing. But its possible abolition is raising hackles in countries such as Germany. The violet-coloured bill, the largest denomination banknote in the single currency area and physically […]

ECB: Euro zone remains fragile

The future of the global economy remains uncertain and there are questions about Europe’s ability to cope with new shocks, the president of the European Central Bank, Mario Draghi, said in its annual report for 2015. Linking the latest events occurred in Greece which would have led to a Grexit, if no agreement had been […]

ECB reduces ELA to Greek banks by 100 million euros

The European Central Bank reduced the emergency liquidity assistance (ELA) towards Greek banks by 100 million euros, at the request of the Bank of Greece. According to the statement, the ECB’s Governing Council “did not object to an ELA-ceiling for Greek banks of €71.4 billion, up to and including Thursday, 10 March 2016, following a […]

Greek banks won’t need further recapitalisation

There is no reason to believe that Greek banks will need further recapitalisation, after the latest round provided them with 14.4 billion euros of funding, the head of the European Central Bank’s supervisory agency was quoted as saying on Saturday. “The capital plans have been fulfilled, so there is no need for additional capital requirements. […]

IMF reiterates call for a significant reduction of Greece’s public debt

The ECB chief is expected to call for the swift conclusion of the bailout review, so that talks on debt relief may begin. The Greek side aims to have its government bonds accepted in the ECB’s quantitative easing (QE) program as soon as possible. The overall goal is for Greek banks to not be reliant […]

ECB considers accepting Greek bonds once again in early 2016

The European Central Bank is examining the possibility of accepting Greek bonds once again as collateral for the liquidity it provides to Greek banks. The ECB will debate the possibility at the end of January or early February, with well-informed sources indicating that there is a positive disposition and climate. By reaccepting Greek bonds, the […]

ELA for Greek banks reduced by a further 2.1 billion euros

The Bank of Greece has announced that the Governing Council of the European Central Bank reduced the ceiling of the Emergency Liquidity Assistance (ELA) by 2.1 billion euros. The reduction came at the request of the Bank of Greece. According to the Bank of Greece, the reduction “reflects an improvement of the liquidity situation of […]

ECB lowers emergency funding cap for Greek banks

The European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) for Greek banks by 2.1 billion euros to 75.8 billion euros, the Bank of Greece said on Thursday. The move reflects an improvement in liquidity conditions in Greece’s banking sector as a result of the stabilisation of private sector deposit flows and […]