In 16th successive fall, Eurosystem funding drops by 3.5 bln in Oct

EconomyMacroeconomy Tags: Banking, BoG, ECB, Liquidity
Photo by MacroPolis
Photo by MacroPolis

Greek banks’ Eurosystem funding dropped by another 3.53 billion euros in October after a decrease by 3.15 billion in September, the Bank of Greece's (BoG) monthly financial statement revealed on Thursday.

The decline is attributed to a reduction in both the ECB and the Emergency Liquidity Assistance (ELA) funding by 2.24 and 1.29 billion euros respectively. Continuing the trend also evidenced in the previous month, the recent downswing mostly reflects in...

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