Banks: ECB holds emergency loans for Athens unchanged upright – THE WORLD

The European Central Bank (ECB) also holds for the “No” of the Greeks to the recent rescue offers the creditor the emergency aid to Hellas -Geldhäuser time being upright. However, the Governing Council left the upper limit for the so-called ELA emergency loans at the level of 26 June, as the ECB announced in Frankfurt.

According to insiders, the framework for the liquidity assistance is therefore still at around 89 billion euros. Without the ELA loans institutions threatens the money to go out, because businesses and individuals have, massively emptied their accounts because of the uncertainty as to whether the country can remain in the euro.

The Governing Council also decided to adjust the haircut on the pledges that use the Institute for the preservation of the emergency loans. For details, did not share with the monetary authorities. “The financial situation of the Hellenic Republic will affect the Greek banks, because the pledges that you are using for ELA, consist to a considerable extent on State bound titles,” said the ECB. ELA-aids be awarded against collateral from Athens’ central bank – on the grant but decided upon by the Governing Council

The ECB allotted also with the situation at. to closely monitor the financial markets. The Governing Council is determined to use all instruments within its mandate.

In Greece, banks should remain closed until Wednesday in Athens. Because of the serious liquidity problem force since last week, so-called capital controls in the country.

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