ECONOMY

Lenders? reliance on ECB funding increases

Greek banks? reliance on European Central Bank financing increased for the first time in five months in May, the country?s central bank said on Thursday.

Greek banks? reliance on ECB liquidity rose to 97.5 billion euros in May from 86.8 billion in the previous month, according to a Bank of Greece statement.

Greek banks have been hurt by concerns over their holdings of government bonds and speculation the country may have to restructure its debt. Greece is the lowest-rated country in the world by Standard