Wednesday, April 29, 2015
The money market or the European Central Bank of Greece banks get no more money. The ECB allows the Bank of Greece now again, to forgive more emergency loans to get the banking system alive.
The European Central Bank (ECB) has, according to an insider the framework for emergency loans to Greek banks increased again. The monetary authorities increased accordingly, the upper limit for liquidity support of the Athens central bank to financial institutions by 1.4 billion euros to now 76.9 billion Euro.
The financial institutions of the risk of bankruptcy Mediterranean country are the money supply increasingly on these cash injections their home central bank instructed. “With the new cap there is an unused liquidity buffer of approximately 3.0 billion euros,” said the insider. Finally, the emergency response framework was increased weekly. This only gradual increase in the ECB maintains the pressure on the Greek government with the international lenders to find a solution to the debt crisis.Read more about
The Frankfurt central bankers now accept credit Hellas weak Treasuries no longer as a pledge of fresh central bank money to. Thus the Greek banks must be fresh ECB monetary largely closed the direct channel. Technically called ELA – – About emergency loans they can generate liquidity when required, yet
Because of the unresolved debt crisis last attracted many Greeks money from their banks.. Most recently, the deposit outflows had but slightly slowed. From February to March, the savings deposits fell by 2.5 billion euros to 145 billion euros, as is apparent from data of the ECB. In February, the decline amounted to 7.8 billion euros the previous month, yet.