ECB tightens terms on collateral for Greek bank liquidity aid
The European Central Bank tightened the terms on the collateral Greek banks post in return for the Emergency Liquidity Assistance that’s keeping them afloat.
“The financial situation of the Hellenic Republic has an impact on Greek banks since the collateral they use in ELA relies to a significant extent on government-linked assets,” the Frankfurt-based ECB said in a statement on its website. “ELA can only be provided against sufficient collateral.”
The ECB said that the maximum level of aid was maintained at the amount of June 26. It was at 88.6 billion euros ($98 billion) on that date.