And now this, from Capital.gr, google translated:
All four banks in request precautionary ELA
People at the Bank of Greece confirmed that it has submitted a request from the four banks to provide liquidity through the ELA and the Bank of Greece, in the prescribed procedure, has informed the European Central Bank. Not specified amount of requests.
To the question of why Capital.gr requested liquidity through “national” ELA and not by the ECB, despite what has been interrupted and remains active financing from Frankfurt, no details were given. Note that all four Greek systemic banks open until February 28 the ECB funding to guarantee Greek government securities.
The provision of liquidity by ELA is significantly “more expensive” than the ECB, which remains less than 0.5%. The difference between the two mechanisms is that in the case of ELA guarantees can use banks are almost all assets of the loan portfolio, while the ECB needed Greek government securities.
It should however be noted that banks also have bonds of the EFSF by the recapitalization which of course no bank wants to “spend” in moments of uncertainty, preferring to exploit even at higher cost securities loans can not use EDU easy neither the ECB nor the capital market.
Earlier, the Bank of Greece rounds had confirmed the information that already two Greek banks have resorted precautionary liquidity in ELA. The representative of the National Bank, Dimitris Spyropoulos, speaking at Capital.gr said earlier that the National Bank has not had recourse to ELA and does not plan to appeal.
The request of the Greek banks will be discussed next Thursday on the ECB Governing Council in Frankfurt. Information indicates that one of the banks turned to the ELA not participated in the auction of Treasury bills held Tuesday.
Meanwhile, according to a report in Bloomberg, the Alpha Bank has submitted a request to the Bank of Greece for stimulating fluid through the ELA, the agent to invoke bank executive.
The request was a precautionary measure, and the bank does not expect that you will need to use the funds of ELA on time, said earlier in the official Bloomberg. According to the same publication and Eurobank submitted a request for precautionary line of the ELA.
According to a publication of Dow Jones Newswires, representative of Alpha Bank said the bank wanted the funding as a precautionary measure and does not intend to use it. “We are just superstitious, and be on the safe side. It is the general situation in Greece. There are many cash withdrawals, “said spokesman of Alpha Bank to Dow Jones Newswires.