Bloomberg article ...
- The European Central Bank is keeping the Greek banking system alive with almost 89 billion euros ($100 billion) of Emergency Liquidity Assistance
- ECB hasn't said how it would classify or react to a missed IMF payment
- ECB Executive Board member Benoit Coeure said the central bank will maintain liquidity assistance for lenders "until further notice" though policy makers will keep reviewing the funds
- ELA is available to banks as long as they are solvent and have adequate collateral
- There is no specific requirement that Greece stay current on its IMF payments to keep the liquidity aid flowing
- The key moment is when the IMF chief tells the fund's board that Greece is overdue, which the IMF says would happen promptly
- Regling (head of the euro-area states' crisis fund, the European Financial Stability Facility, that supports Greece) would then have to make a recommendation to the board of directors of the EFS
