The Central Bank of Cyprus announced today that a possible precautionary use of emergency liquidity (ELA) by the two Greek banks, Alpha and Eurobank will not affect the activities of the subsidiary banks.
Head of the Central Bank supervision department, Yiangos Demetriou, asked to comment on reports from international agencies and Greek media, said that "if they have asked for help I do not see how this affects the subsidiaries, they are separate Cypriot companies”.
“There is no connection”, he added.
The request of the two Greek banks for precautionary liquidity assistance from the ELA will be discussed next Thursday in Frankfurt.
The shares of the four Greek systemic banks are today under strong pressure on the Athens Stock Exchange amid information for use or imminent use of emergency liquidity from the Bank of Greece.
Head of the Central Bank supervision department, Yiangos Demetriou, asked to comment on reports from international agencies and Greek media, said that "if they have asked for help I do not see how this affects the subsidiaries, they are separate Cypriot companies”.
“There is no connection”, he added.
The request of the two Greek banks for precautionary liquidity assistance from the ELA will be discussed next Thursday in Frankfurt.
The shares of the four Greek systemic banks are today under strong pressure on the Athens Stock Exchange amid information for use or imminent use of emergency liquidity from the Bank of Greece.
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