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Monday, July 6, 2015

ECB haircut adjustment will not hit Greek banks' business

FRANKFURT (Reuters) - The European Central Bank's adjustment to the discount on Greek banks' collateral for emergency funding will not impact their regular business, a person familiar with the situation said on Monday. "It doesn't change anything for the everyday business of the banks in Greece because there is a buffer between the level of ELA (Emergency Liquidity Assistance) and the level of the collateral," the person said. (Reporting By John O'Donnell; editing by Balazs Koranyi)


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