ECB likely to hold meeting on Greek ELA on Monday

The European Central Bank’s governing council will likely hold a telephone conference on Monday to discuss emergency liquidity assistance to Greek banks, a person familiar with the matter said on Friday.

The ECB kept Emergency Liquidity Assistance (ELA) steady for Greek banks at around 89 billion euros earlier this week but adjusted the haircut on the collateral those lenders offer as security.

Greece submitted a set of reform proposals to its creditors on Thursday aimed at winning their backing for further aid and financial markets rallied, pricing in a deal this weekend.


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