Bank of Greece requests a stand-by domestic emergency funding line from the ECB

Reuters reports that the Greek central bank asks ECB to allow emergency bank lending line if needed

• A Bank of Greece official (who declined to be named) said “We have sent a request to the ECB on ELA approval for all four major banks to have a shield for the banking system,”

Under ELA, national central banks can lend to commercial banks but have to get approval from the ECB to do so.

More at the link

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Note that on Friday (Asia time) Two Greek systemic banks reportedly submitted requests for emergency liquidity assistance (and what a mess that story was ...)