ECB further reduces ELA for Greek Banks by EUR 900 mln

ECB further reduces ELA for Greek Banks by EUR 900 mln

Athens, November 6, 2015/Independent Balkan News Agency

By Spiros Sideris

By EUR 900 million decreased the maximum borrowing limit of Greek banks via emergency liquidity mechanism (ELA), after the further improvement of their liquidity.

As announced by the Bank of Greece, the Governing Council of the ECB has not objected to the determination of a maximum emergency aid providers limit liquidity (ELA) to Greek Banks to EUR 86.0 bn until Wednesday, November 18, 2015, after a request of the Bank of Greece, from EUR 86.9 billion which was until yesterday.

The lowering of the ceiling by EUR 0.9 bn reflects the improvement in the liquidity of Greek banks in the context of the subsiding of uncertainty and the stabilisation of flows of deposits of the private sector.