ECONOMY

ECB lowers cap on ELA for Greek banks

ecb-lowers-cap-on-ela-for-greek-banks

The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks can draw from the domestic central bank by 100 million euros to 71.4 billion euros, the Bank of Greece said on Thursday.

The move reflected improving liquidity conditions in Greece’s banking sector, helped by the stabilization of private sector deposit flows, the Greek central bank said.

[Reuters]