News Headline Summary

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

Says:
- 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.

Update details:

- 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.

Print 18:54, 12 Nov 2012 - ECB - Source: Newswires