Bank of Greece: “ELA to Greek banks reduced to 58.6 billion euros”

The Bank of Greece made an announcement on Thursday explaining how the European Central Bank reduced the ceiling of the Emergency Liquidity Assistance (ELA) to Greek banks to 58.6 billion euros from 61.1 billion euros.

According to the official statement, the reduction of ELA ceiling by 2.5 billion euros reflects the improvement of liquidity, reduction of uncertainty and stabilization of private sector deposits flows.