ECB stops operations with some Greek banks: sources

[FarCenter]

Source: Reuters

The European Central Bank has stopped monetary policy operations with some Greek banks as they have not been successfully recapitalized, euro zone central bank sources said on Wednesday.

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One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB cannot provide liquidity to banks in such a situation.

Read more: http://www.reuters.com/article/2012/05/16/us-ecb-greece-banks-idUSBRE84F0SN20120516