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ECB haircut adjustment will not hit Greek banks' business: source
July 6, 2015 / 6:16 PM / 2 years ago

ECB haircut adjustment will not hit Greek banks' business: source

FRANKFURT (Reuters) - The European Central Bank’s adjustment to the discount on Greek banks’ collateral for emergency funding will not impact their regular business, a person familiar with the situation said on Monday.

“It doesn’t change anything for the everyday business of the banks in Greece because there is a buffer between the level of ELA (Emergency Liquidity Assistance) and the level of the collateral,” the person said.

Reporting By John O'Donnell; editing by Balazs Koranyi

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