ECB restores ‘waiver’ to let Greek banks access cheaper finance
European central bank demands ‘continued conditionality’ but holds out possible bond purchases
Greek banks will be able to access a considerably cheaper source of finance, following an announcement by the governing council of the European Central Bank (ECB) on June 22.
Greek government bonds will once again be subject to a 'waiver', allowing them to be used as collateral in eurosystem operations, despite their junk bond status.
The waiver, which will give the Bank of Greece access to finance raised under the eurozone's targeted, longer-term refinancing operations (TLTRO), will take effect
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