ELA ceiling for Greek banks slashed by 7.8 bln to 77.9 bln after recap

EconomyMacroeconomy Tags: Banking, BoG, Liquidity
Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH
Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

The Bank of Greece (BoG) said on Thursday that the ECB Governing Council decided to reduce the Emergency Liquidity Assistance (ELA) ceiling for Greek bank by 7.8 billion euros to 77.9 billion.

This decision follows a BoG request mainly on the back of the progress made in the bank recapitalisation process coupled with reduced uncertainty and stabilisation of private sector deposit flow.

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