ELA to Greek banks drops 2.7 pct in October

Emergency central bank funding to Greek lenders fell by 2.7 percent, or 1.3 billion euros in October from the previous month, Bank of Greece data showed on Thursday.

Banks have relied on emergency liquidity assistance (ELA) drawn from the central bank since February last year after being cut off from the ECB’s funding window.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 46.3 billion euros at end-October from 47.6 billion at end-September.

[Reuters]