ECB lowers ELA cap for Greek lenders

TAGS: Economy, Banking, Finance

The European Central Bank on Thursday lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the Bank of Greece by 4.4 billion euros to 52.8 billion euros, following a request by the central lender.

The EBC’s decision reflected improvements in the liquidity of local lenders through the stabilization of the private sector’s deposit flows.

The ELA ceiling was valid through Wednesday, September 21.