New ELA decrease by 3.2 billion euros

New ELA decrease by 3.2 billion euros

Greek Bank of Greece announced a new cut in the ELA Emergency Liquidity Facility limit for Greek banks by € 3.2bn.

The “ceiling” in use of the ELA is further reduced to 16.6 billion euros.

In particular, as reported by the Bank of Greece, on March 8, 2018 the Governing Council of the ECB did not object to the setting of the ELA ceiling for Greek banks at EUR 16.6 billion up until Wednesday, April 11, 2018, at the request of the Bank of Greece.

The lowering of the € 3.2 billion cap reflects the improvement in the liquidity of Greek banks, taking into account flows from private sector’s deposits and banks’ access to financial markets…./IBNA