5.4 Access to ELA under the resolution framework

A special case involves emergency liquidity assistance (ELA). National central banks can award ELA to banks in and outside the Eurozone. As discussed in section 3.3.1.3, this ELA does not constitute State aid if it is granted in accordance with the conditions set out in the 2013 Banking Communication. As a result of the outcome that ELA does not qualify as EPFS because it is no State aid and also no supranational EPFS, the description of the access to EFPS under the resolution framework set out in the previous section does not apply for ELA. This section discusses the access to ELA for failing banks. It starts with a description of the assessment framework that sets the criteria for access to ELA. Subsequently, it discusses the restrictions that are set in relation to access to ELA in and outside of resolution.