ELA for Greek banks drops anew

Emergency central bank funding to Greek lenders fell by 16 percent, or 10 billion euros, in June compared to the previous month, Bank of Greece data showed on Wednesday.

The drop comes after the European Central Bank reinstated Greek banks’ access to its cheap funding operations last month after more than a year on an emergency lifeline.

Emergency funding, which is more costly than borrowing from the ECB, dropped to 54.37 billion euros at the end of June from 64.81 billion euros at the end of May, the data showed.

[Reuters]