RIGA, April 24 (Reuters) - Greek banks can continue to rely on emergency liquidity from the European Central Bank as long as they are solvent and have collateral, European Central Bank President Mario Draghi said on Friday.
"ELA (Emergency Liquidity Assistance) will continue to be given until Greek banks will be solvent and have adequate collateral," Draghi told news conference.
"Having said that, given the fragility of the current situation, the continued deposit outflows, the ongoing policy dialogue, recently the yields on sovereign bonds were the highest since 2012 PSI time," Draghi said, referring to Greece's privately-held debt restructuring.
"The higher are the yields, the bigger is the volatility, the more collateral gets destroyed." (Reporting by Robin Emmott, Ingrid Melander, Jan Strupczewski)