22 October 2017
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ECB lowers ELA ceiling for Greece

21 July 17 - RE+D Magazine
ECB lowers ELA ceiling for Greece

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Dimitris Andritsos

CEO of Eurobank Property Services S.A Eurobank Property Services
The European Central Bank reduced the Emergency Liquidity Assistance (ELA) ceiling for Greek banks by 1.1 billion euros, the Bank of Greece announced on Thursday.

 

The reduction "reflects an improvement of the liquidity situation of Greek banks, taking into account private sector deposits flows," a central bank announcement said.

According to a BoG announcement, "on 20 July 2017 the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of 40.5 billion euros, up to and including Wednesday, 2 August 2017, following a request by the Bank of Greece."

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