BUSINESS

ECB keeps Greek ELA ceiling at 46.6 bln euros

TAGS: Banking

The European Central Bank maintained the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank at 46.6 billion euros, the Bank of Greece said on Thursday.

The move reflected liquidity conditions in Greece’s banking system, taking into account private sector deposit flows, it said.

The ELA ceiling is valid up to April 27.

Greek banks have relied on emergency liquidity assistance since February 2015 after being cut off from the ECB’s funding window.

Last June the ECB reinstated Greek banks’ access to its cheap funding operations, allowing lenders to reduce their dependence on the emergency lifeline.

ELA funding to Greek lenders rose by 300 million euros, or 0.7 percent, to 43.1 billion euros at end-February compared to January.

[Reuters]

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