Bank of Greece: “ELA to Greek banks reduced to 51.9 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 by 900 million euros, for a total of 51.9 billion euros.

According to the official statemetn, the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of 51.9 billion euros, up to and including Tuesday, 4 October 2016, following a request by the Bank of Greece.

The reduction of 900 million euros in the ceiling reflects an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilization of private sector deposits flow.