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ECB Said to Extend Backstop to Bulgaria Amid Greek Fallout

relates to ECB Said to Extend Backstop to Bulgaria Amid Greek Fallout
Photo: Bloomberg, Illustration by Tom Hall/Bloomberg Business
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The European Central Bank is set to extend a backstop facility to Bulgaria and is ready to assist other nations in the region to ward off contagion from Greece, according to people familiar with the situation.

The ECB would provide access to its refinancing operations, offering euros to the banking system against eligible collateral, the people said, asking to remain anonymous because the matter is confidential. The ECB and the Bulgarian central bank declined to comment.