ECONOMY

ECB lowers ELA cap for Greek banks

ECB lowers ELA cap for Greek banks

The European Central Bank lowered the cap on emergency liquidity assistance Greek banks can draw from the domestic central bank by 1 billion euros to 86.9 billion, the Bank of Greece said on Thursday.

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

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

[Reuters]

Finance
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