Greek banks to run out of collateral in 14 weeks: JP Morgan

Greek banks are losing around 2 billion euros of deposits a week, a pace of outflows which, if maintained, will see them run out of collateral for new loans in 14 weeks, according to JP Morgan. This is based on its calculation that of a maximum 108 billion euros of financing available from the European Central Bank and Greek central bank, Greek banks have already used up 80 billion euros, leaving them with 28 billion euros if needed.
This estimate of Greek banks' access to funding comes amid confusion about how long they can continue to function while the stand-off between Athens and its international creditors over Greece's bailout programme persists. Debt-laden Greece and its euro zone creditors are having crunch talks in Brussels this week on the future of the bailout, which Athens wants renegotiated.