ECB funding for Greek banks fell 4.5bln euros in March

European Central Bank funding to Greek banks fell by 4.5 billion euros in March while emergency liquidity assistance (ELA) from the country’s central bank was broadly flat, Bank of Greece data showed on Tuesday.

Greek banks resumed funding from the ECB in December. Borrowing from the ECB is about two percentage points cheaper than ELA funding.

ECB funding to Greek banks dropped to 70.73 billion euros last month from 75.23 billion in February, with emergency liquidity assistance from the Bank of Greece at 21.22 billion euros in March from 21.16 billion in February.