Emergency liquidity assistance (ELA) is a form of exceptional financing granted to solvent financial institutions (as a rule banks) facing temporary liquidity needs.
These operations allow the Bank of Italy to act, on a discretionary basis, as a lender of last resort, providing temporary loans against adequate collateral. The exceptional financing disbursed by the Bank of Italy can take the form of an injection of liquidity or a collateralized securities lending.
Informativa sui cookie: La Banca d’Italia utilizza cookie tecnici e di terze parti per il funzionamento del sito: per maggiori informazioni e per sapere come abilitarli in modo selettivo leggere l'informativa sulla privacy. Utilizzare uno dei seguenti pulsanti per esprimere la propria preferenza. Se si clicca su “Chiudi/Rifiuta tutti i cookie” saranno attivati i soli cookie tecnici interni al sito.
About this site's cookies: The Bank of Italy uses technical and third-party cookies for the operation of the site: for more information and to know how to selectively enable cookies, read the Privacy Policy. Click on one of the buttons below to express your preference. If you click "Close/Reject all cookies", only the internal technical cookies of the site will be activated.
