Decisions on ELA could be shifted to ECB
Mario Draghi says framework could be reviewed in light of banking union
Decisions on whether to grant emergency liquidity assistance (ELA) could be made by the European Central Bank (ECB) in the future, president Mario Draghi said today (November 11).
As it stands, national central banks determine whether to extend ELA to their banking systems, though the ECB's governing council can overrule them. In addition, the Single Supervisory Mechanism is responsible for assessing bank solvency.
The opacity of the process caused tensions during the Greek crisis, prompting a
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