News Headline Summary

According to a source ECB kept total emergency lending capital for Greek banks unchanged at last weeks meeting

- ECB confident Greece can avoid a default on T-bill redemptions.
- ECB reduced Greek T-bill limit to EUR 3.5bln from EUR 7bln for collateral use.
- Higher value of Greek bonds and other assets give banks more flexibility on collateral.

Analysis details (19:04)

- This is in-fitting with earlier reports that noted the ECB has cut Greek ELA ceiling for T-bills to EUR 3bln from EUR 7bln which was according to Die Welt. It was also reported that the ECB will accept fewer t-bills and more alternative securities and collateral according to these reports.

12 Nov 2012 - 18:54 - Fixed Income - Source: Newswires

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