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Financial News: ECB Lowers Emergency Funding Ceiling For Greek Banks

ECB Lowers Emergency Funding Ceiling For Greek Banks

10/05/2017 - 06:55:00 (RTTNews)

(RTTNews) - The European Central Bank lowered the ceiling on emergency funding for Greek banks as their liquidity situation improved, the Bank of Greece said Thursday.

The cap on the Emergency Liquidity Assistance, or ELA, that Greek banks get from the Bank of Greece was reduced by EUR 1 billion to EUR 32.6 billion on October 4, the bank announced in a statement.

The ceiling will hold until October 26.

The reduction reflects an improvement of the liquidity situation of Greek banks, taking into account private sector deposits flows, the Bank of Greece added.

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