Cyprus Mail

ECB liquidity declines

EUROPEAN Central Bank (ECB) emergency liquidity assistance (ELA) declined slightly in March, figures released by the Central Bank of Cyprus showed.

The ELA funding declined from €9.55 billion in February to €9.50 billion in March.

Liquidity from the ECB’s monetary operations in March fell €200 million to €1,4 billion million from €1,6 billion in February.

The CBC also holds gold reserves of € 419.3 million compared with €389.1 million in February.
The government’s debt to the CBC stood at €1.35 billion.

Cypriot banks’ reliance on ELA funding peaked to €11.40 billion in March 2013 as Cypriot authorities and the European Commission, the European Central Bank and the IMF, agreed on a €10 billion bailout which featured a haircut on banking deposits over €100,000.

Related Posts

Taking the Cypriot people for a ride

Christos Panayiotides

Alleged racist attack on Limassol

Nick Theodoulou

Brittain to take over as Premier League chair from 2023

Jonathan Shkurko

Labour inspectors find 18 undeclared workers

Herbert Diess, Volkswagen’s disruptor-in-chief, runs out of road

Reuters News Service

Ivana Trump, first wife of Donald Trump who helped build his empire, dies at 73


Comments are closed.