Sentences with phrase «emergency liquidity assistance»

The ECB's governing council raised the cap on Emergency Liquidity Assistance on Tuesday, according to a person familiar with the matter who asked not to be identified since the information isn't public.

He added he had sought clarification on Monday from ECB president Mario Draghi as to how long he thought it was feasible to pay emergency liquidity assistance (ELA) to Greece.

Greece has been bleeding deposits since late last year and is now dependent on the ECB's emergency liquidity assistance facility.

Several years ago, the Bank of Canada clarified that major systemically important financial institutions such as the Quebec - based Desjardins system and the B.C. Credit Union Central will only be eligible for Bank of Canada emergency liquidity assistance in a crisis if prearrangements are in place with provinces to cover any losses.

The ECB has frozen any further emergency liquidity assistance (ELA) to the Greek banks.

As a result of this decision, Greek banks, already strained by the run on deposits, subsequently depend on Emergency Liquidity Assistance (ELA), which is, however, significantly more expensive than regular ECB financing.

The chief executive officer of Greece's largest lender expects that the emergency liquidity assistance given by the European Central Bank (ECB) will end in 2018.

Other market analysts were preparing for financial turmoil in Greece, however, if no deal was found this weekend, the ECB could then withdraw its emergency liquidity assistance (ELA) to Greek banks, forcing Greece to implement capital controls to prevent bank runs.

Government spokesman Gabriel Sakellaridis said late Sunday that the Bank of Greece was asking for the ECB to provide money under its Emergency Liquidity Assistance mechanism.

That is all the ECB ultimately did — by refusing to increase the provision of ELA (emergency liquidity assistance) to Greek banks, the latter were no longer able to pay depositors who attempted to withdraw their own money.