Bloomberg reports that the ECB are said to have left the ELA ceiling unchanged. BBC report that Greece's bankers are bullish for a deal
BBC's Robert Peston has been speaking to some senior bank execs who have said that withdrawals are steadily lower than at the beginning of the week and that they have more than enough to cover any demand for withdrawals there may be today. That gives some credence to the BBG headline
May Greek bank deposits totalled €129.9bn vs €133.7bn in April, BBG handily report as I type this
As for what may happen after the weekend talks, one exec was very upbeat saying that it is certain there will be a deal, though Peston points out that the logic is based on the fact that consequences of no deal would be "cataclysmic"
The banks are under no illusions on what a failure to strike a deal would mean with the Greek central bank warning that the ELA will end and capital controls will be likely. There would also be several bank holidays imposed to allow parliament time to bring in the legislation needed for capital controls
It seems the Greek banks are banking on a lot of hope for a deal on the basis of what the downside will be if it's not. Whether they are really planning for that downside is another matter but they there's not an awful lot they can do right now but sit and go along for the ride
