ECONOMY

Greek bank deposit levels seem to be stabilizing, says ECB source

Since a deal to extend Greece’s bailout program last month, deposit levels in Greek banks appear to have been stabilizing, with some days of net inflows as well as some of net outflows, an ECB source said on Monday.

The source said the European Central Bank had not changed its view that it would not raise the ceiling it sets on Greek T-bill issuance if it took the view that this amounted to “monetary financing” because the bills were being bought by Greek banks benefiting from liquidity support from the central bank.

[Reuters]