Greek banks’ ECB funding rises in January, ELA down

European Central Bank funding to Greek banks rose by 56.9 billion euros in January while emergency liquidity assistance (ELA) from the country’s central bank fell, Bank of Greece data showed on Tuesday.

Greek banks resumed funding directly from the European Central Bank in December. ECB funding is about two percentage points cheaper than ELA funding.

Lending from the European Central Bank to Greek banks rose to 76.22 billion euros at the end of January from 19.35 billion a month earlier, the Bank of Greece said.