ELA trend re­versed on bailout wor­ries

Kathimerini English - - Focus -

Emer­gency cen­tral bank fund­ing to Greek lenders rose by 300 mil­lion eu­ros, or 0.7 per­cent, in Fe­bru­ary com­pared to the pre­vi­ous month, Bank of Greece data showed yes­ter­day. Emer­gency fund­ing, which is more costly than bor­row­ing from the Euro­pean Cen­tral Bank, in­creased to 43.1 bil­lion eu­ros at the end of Fe­bru­ary from 42.8 bil­lion eu­ros at the end of Jan­uary, the data showed. Banks have re­lied on emer­gency liq­uid­ity as­sis­tance (ELA) drawn from the Greek cen­tral bank since Fe­bru­ary 2015 af­ter be­ing cut off from the ECB’s fund­ing win­dow due to stalled bailout talks be­tween the gov­ern­ment and its of­fi­cial lenders. Their de­pen­dence on the ELA emer­gency life­line has de­clined since June last year when the Euro­pean Cen­tral Bank re­in­stated banks’ ac­cess to its cheap fund­ing op­er­a­tions.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.