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ECB haircut increased by 10 percent on some collateral - banking source
July 6, 2015 / 7:16 PM / 2 years ago

ECB haircut increased by 10 percent on some collateral - banking source

ATHENS, July 6 (Reuters) - The ECB demanded an increase of around 10 percent on some Greek bank collateral offered for emergency funding although the overall impact of the change is set to be limited, a Greek banking source said on Monday.

“The haircut increase on part of the collateral pool was about 10 percent ... but it does not create any problems for any banks,” said the source.

This is due to the fact that banks have sufficient spare collateral that they can pledge in return for emergency funding. (Reporting By George Georgiopoulous; writing by John O‘Donnell)

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