ECONOMY

ECB lowers emergency funding cap for Greek banks to 86.9 bln euros

ECB lowers emergency funding cap for Greek banks to 86.9 bln euros

The European Central Bank lowered the cap on emergency liquidity assistance Greek banks can draw from the domestic central bank by 1.0 billion euros to 86.9 billion, the Bank of said on Thursday.

The move reflected an improvement in liquidity conditions in Greece's banking sector, the Bank of Greece said.

Greek banks have relied on the emergency liquidity assistance (ELA) since February after being cut off from the ECB's funding window.

[Reuters]

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