“The emergency liquidity assistance (ELA) is a mechanism that provides central bank money to an eligible credit institution or group of credit institutions facing temporary liquidity problems, outside of normal monetary policy operations”, the central bank said in its statement.
The Regulation defines the general framework for emergency liquidity assistance by the National Bank of Romania, including the applicable terms and conditions, the assets accepted as collateral, the related documents and the credit institution’s obligations over the course of this operation.