BUSINESS

ELA to Greek banks rises in April

TAGS: Euro, Banking

Emergency central bank funding to Greek lenders rose by 1.04 percent, or 690 million euros in April compared to the previous month, Bank of Greece data showed on Thursday.

The country’s banks have relied on emergency liquidity assistance (ELA) drawn from the Greek central bank since February last year after being cut off from the European Central Bank’s funding window due to stalled bailout talks between the government and its official lenders.

Emergency funding, which is more costly than borrowing from the European Central Bank, rose to 66.88 billion euros at the end of April from 66.19 billion in March, the data showed.

[Reuters]

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