Eurosystem funding drops by another 4.3 bln in July, largely on reduced ELA reliance

EconomyMacroeconomy Tags: Banking, BoG, ECB, Liquidity
Photos by Dennis Skley via Flickr
Photos by Dennis Skley via Flickr

Greek banks’ Eurosystem funding continued heading south for the thirteenth month in a row in July, when it decreased by 4.3 billion in July after a drop of 8.57 billion in June, the Bank of Greece's (BoG) monthly financial statement showed on Thursday.

As we have previously noted, the ongoing reduction in ELA funding balance has a positive impact on Greek banks’ net interest income, since its funding cost stands 150 basis points above that of ECB funding.

You need a subscription to access our analysis. Please choose one of the packages available.

If you are already registered, please sign in.

Full Access

A tailor-made service for professionals

Apart from having access to all our analysis and data, subscribers will be able to consult one-on-one with our analysts.

Free Access

Read some of our analysis for no charge

By signing up to MacroPolis, readers will be able to read two of our articles without charge each month. They will not have access to our data or weekly e-newsletter.

Standard Access

Our analysis and data at your fingertips

Subscribers will be able to read the full range of our articles, access our statistics and charts, and receive our weekly e-newsletter for €450 per year.