ECONOMY

ECB funding to Greek banks down by 4.26 billion euros in June

European Central Bank funding to Greek banks fell by 4.26 billion euros in June while emergency liquidity assistance (ELA) from the country’s central bank increased by 930 million, Bank of Greece data showed on Thursday.

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 61.14 billion euros in June from 65.39 billion euros in May, while emergency liquidity assistance from the Bank of Greece rose to 20.86 billion euros from 19.93 billion euros a month earlier. [Reuters]