Crisis: Greek banks to receive up to 15 bln euros from ECB

16 October, 14:56

    (ANSAmed) - ATHENS, OCTOBER 16 - The European Central Bank (ECB) will further lower a "haircut" imposed on bonds offered as collateral by Greek banks for their borrowing from the Eurosystem, as Ana-Mpa reports today from Bruxelles. The Bank of Greece on Thursday confirmed that during a communication between Greek central banker Yannis Stournaras with ECB's president Mario Draghi, the ECB expressed its intention to "loosen" the framework covering Greek banks' borrowing with the aim to boost their liquidity. In its framework, the ECB is expected to lower a "haircut" imposed on securities offered by Greek banks as collateral to borrow from the Central Bank. According to reports, Stournaras and Draghi have come to an agreement to provide Greek banks with further funding worth 12 to 15 million euros. According to the latest figures, Greek banks' borrowing from the European Central Bank totaled 42.6 billion euros in September. (ANSAmed).

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