ECB extends Greek bank collateral limits: Paper

Last Updated: Mon, Nov 12, 2012 19:41 hrs

The European Central Bank has agreed to broaden the framework for allowing Greek banks to tap emergency loans from Greece’s national central bank, German daily Die Welt reported on Monday, citing central bank sources.

By broadening the collateral framework for Greek banks to obtain the loans — so-called emergency liquidity assistance (ELA) —from the Bank of Greece, the ECB would more than offset a reduction in the ceiling on T-Bills the banks could use as security to 3 billion euros from 7 billion euros, the newspaper said.

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