ECB further reduces borrowing ceiling for Greek banks
The European Central Bank further reduced the borrowing ceiling for Greek banks, accepting a request by the Bank of Greece.
The central bank reduced the borrowing ceiling through the Emergency Liquidity Assistance mechansim (ELA) by 900 million euros to 86 billion.
This decline reflects an improving liquidity in Greek banks in the framework of a declining uncertainty and a stabilization in bank deposit flows of the private sector.
