ecb raises greek banks emergency funding by €700m
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

ECB raises Greek banks' emergency funding by €700m

Arab Today, arab today

Arab Today, arab today ECB raises Greek banks' emergency funding by €700m

Bank of Greece headquarters
Athens - AFP

The European Central Bank on Wednesday further increased the maximum Emergency Liquidity Assistance that Greek banks can obtain by 700 million euros, a banking source said.
The latest move lifts the total ceiling to 71.8 billion euros ($77.3 billion).
Greek banks are dependent on the ECB for financing, but the eurozone's central bank no longer accepts Greek sovereign bonds as collateral for loans.
It had done so previously under a special waiver mechanism, but rescinded that waiver until Athens' new anti-austerity government under Prime Minister Alexis Tsipras can reach a new debt deal with its creditors.
Without the waiver, Greek banks now rely solely on ELA, which is more expensive than normal central bank refinancing operations.
Greek banks have a desperate need for liquidity. From early December to the end of February, individual account holders and business account holders withdrew 25 billion euros on the back of fears about Greece defaulting under Tsipras' radical government.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb raises greek banks emergency funding by €700m ecb raises greek banks emergency funding by €700m

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb raises greek banks emergency funding by €700m ecb raises greek banks emergency funding by €700m

 



GMT 12:05 2017 Thursday ,20 April

Iran FM slams 'worn-out' US nuclear accusations

GMT 18:04 2017 Wednesday ,18 October

Cash-loving Japanese savers opt to play it safe

GMT 16:33 2018 Friday ,07 December

Lavrov comments on Greek PM’s visit to Moscow

GMT 21:06 2016 Sunday ,28 February

Grave violations, human right abuses in Libya

GMT 07:07 2017 Sunday ,12 February

Night-time quake kills at least 6 in Philippines

GMT 22:20 2017 Sunday ,01 January

Egypt decries Istanbul nightclub attack

GMT 10:45 2017 Wednesday ,11 October

Tears in Damascus as Syria misses shot at World Cup

GMT 05:32 2017 Tuesday ,14 February

Ajman Crown Prince receives Belgian Foreign Minister

GMT 09:55 2017 Saturday ,21 January

Actress Jenny Esper keen to consider scenarios
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday