Public funding of failing banks in the European Union (LBF vol. 19) 2020/5.4.4:5.4.4 ELA as a trigger for recovery?

Public funding of failing banks in the European Union (LBF vol. 19) 2020/5.4.4

5.4.4 ELA as a trigger for recovery?

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Article 5 BRRD does not prohibit recovery plans to assume access to ELA and other central bank support. Moreover, access to central bank funding is considered a recovery option, for example to address the risks of adverse fluctuations in market prices or potential changes in a central bank tender process. Recovery plans should therefore provide that banks have the required amount of collateral in custody with the relevant central bank, or facilitate availability of central bank eligible collateral.1

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