ECB lowers ELA borrowing ceiling for Greek banks

The European Central Bank has lowered the Emergency Liquidity Assistance (ELA) ceiling for Greek banks borrowing through the mechanism by 1.9 billion euros, the Bank of Greece (BoG) announced on Thursday.

The BoG proposed a ceiling of 14.7 billion euros up to and including Wednesday, May 16, 2018. “The reduction of 1.9 billion euros in the ceiling reflects an improvement of the liquidity situation of Greek banks, taking into account flows stemming from private sector deposits and from the banks’ access to wholesale financial markets,” Greece’s central bank said.

Source ANA-MPA
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