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Greek bank ELA cap lowered to €50.7B

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Greek bank ELA cap lowered to €50.7B

The European Central Bank's Governing Council did not object to the Bank of Greece SA's request to lower the ceiling on emergency liquidity assistance available to Greek banks by €200 million to €50.7 billion until Jan. 11, 2017, the latter said Dec. 8.

The Bank of Greece said the reduction in the ceiling reflects an improvement in Greek banks' liquidity situation amid a reduction of uncertainty and the stabilization of private sector deposits flows.