Greece`s major banks are currently solvent and the European Central Bank will continue to provide liquidity to them to help finance the economy, ECB president Mario Draghi said on Monday.
"At this stage, major Greek banks are solvent and the collaterals that they provide are adequate," Draghi told the European Parliament`s Committee on Economic and Monetary Affairs.
"Of course, the situation is in evolution and we`ll have to monitor the situation very closely and to see whether the conditions for the assessment of the collaterals are still in place and more generally on the health of the banking system," he said.
The so-called Eurosystem or European system of central banks had so far extended around 118 billion euros ($133 billion) in liquidity to Greek banks, which was more than double the amount at the end of 2014.
"The current liquidity support represents around 66 percent of Greece`s gross domestic product, the highest level as a share of GDP of any euro area country," Draghi said.
"Liquidity will continue to be extended as long as Greek banks are solvent and have sufficient collateral."
