Emergency liquidity assistance to Greek banks drops by 1/3

Emergency liquidity assistance (ELA) to Greek lenders from their own central bank dropped by a third in February, in a sign of progressing normalization of the country’s banking system, Bank of Greece data showed on Tuesday.

ELA funding fell to 21.16 billion euros at end-February from 31.42 billion euros the previous month.

European Central Bank funding to Greek banks also dropped slightly over the same period, to 75.23 billion from 76.22 euros, according to a balance sheet published by the Bank of Greece.