BUSINESS

ECB lowers funding cap for Greek banks

TAGS: Banking

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 100 million euros to 46.5 billion euros, the Bank of Greece said on Thursday.

The move reflected liquidity conditions, taking into account private sector deposit flows, it said. The ELA ceiling is valid up to May 17.

ELA funding to Greek lenders dropped by 700 million euros, or 1.6 percent, in March compared to the previous month, Bank of Greece data showed on Tuesday.

[Reuters]

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