ECB lowers emergency funding cap for Greek banks to 58.6 bln euros


The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece said on Thursday.

The move reflected an improvement in the liquidity conditions in Greek banks and the stabilization of private sector deposit flows, it said. The ELA ceiling is valid and up to Thursday, July 21. [Reuters]