ELA for Greek banks reduced by EUR 2.1 bn

ELA for Greek banks reduced by EUR 2.1 bn

Athens, December 18, 2015/Independent Balkan News Agency

By Spiros Sideris

The maximum borrowing limit of Greek banks from the Emergency Liquidity Facility (ELA) was reduced by EUR 2.1 bn, following the recapitalization of Greek banks, announced Thursday the Bank of Greece.

The Governing Council of the ECB did not object on Wednesday to the fixing of the maximum aid emergency liquidity supply limit (ELA) towards the Greek banks to EUR 75.8 bn until Wednesday, January 13, 2016, at the request of the Bank of Greece.

“The lowering of the maximum limit by EUR 2.1 bn reflects the improvement in the liquidity of Greek banks, in the context of the retreat of uncertainty and the stabilization of flows of deposits of the private sector and the progress made in the process of recapitalization of Greek banks”, writes the statement of the BoG.