The ECB reduces ELA by EUR 1.4 bn

The ECB reduces ELA by EUR 1.4 bn

Athens, April 8, 2016/Independent Balkan News Agency

By Spiros Sideris

The European Central Bank reduced the limit on the use of emergency liquidity mechanism for the Greek banks by EUR 1.4 bn to EUR 69.9 bn, at the request of the Bank of Greece.

As reported in its statement the Bank of Greece, “on April 6, 2016 the Governing Council has not objected to the determination of the maximum emergency aid limit in liquidity (ELA) to Greek banks to EUR 69.9 bn, up to Thursday, April 21, 2016, at the request of the Bank of Greece.

The reduction of the limit of EUR 1.4 bn reflects the improved liquidity of Greek banks in the context of the decline in uncertainty and the consolidation of private sector deposits flows”.