ECB to consider taking Greek bonds as collateral - FT

The European Central Bank is considering accepting Greek bonds as collateral and reimposing the waiver they previously scrapped last year, according to a FT story.

The ECB’s governing council will meet next Thursday in Vienna and according to FT, officials are likely to discuss whether to reintroduce a waiver that allows the ECB to accept Greek debt in its regular auctions.

If the ECB reintroduces the waiver, Greek banks will be able to access the bank’s cheaper loans instead of the more expensive emergency loans (Emergency Liquidity Assistance or ELA), but won’t allow the Greek government to benefit from the ECB QE programme.