Emergency Liquidity Assistance – Moving Away from ‘Constructive Ambiguity’?

This briefing prepared by the Economic Governance Support Unit of DG Internal Policies of the European Parliament gives an overview of the objectives and nature of emergency liquidity assistance that may be provided by central banks for banks facing sudden liquidity problems. It also provides a short description on how this is done by the European System of Central Banks inside the Banking Union and raises some questions on how this could evolve in the future.