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Greek bank ELA cap lowered to €46.3B


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Greek bank ELA cap lowered to €46.3B

The ECB's Governing Council did not object to the Bank of Greece SA's request to reduce the ceiling on emergency liquidity assistance available to Greek banks by €200 million to €46.3 billion until Feb. 15, the latter said Feb. 2.

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

The ELA ceiling was previously lowered by €4.2 billion to €46.5 billion in early January.