Category Archives: Liquidity

I have written a bit about Emergency Liquidity Assistance (ELA) on this blog - see here and here. The ECB seems to follow Tyler Durden rules when it comes to explaining ELA - ‘The first rule of ELA is; We … Continue reading →

This post - the first on this blog - looks at ECB liquidity operations. First up are the Main (7day) Refinancing Operations (MRO). Where it says k, read Billions. From Oct 22nd 2008, the ECB started 100% allocation of the … Continue reading →