ECB lowers ELA borrowing ceiling for Greek banks‏

The European Central Bank further lowered the borrowing ceiling for Greek banks from the Emergency Liquidity Assistance mechanism (ELA), accepting a request made by the Bank of Greece.

The Greek central bank, in a report released on Thursday, said that the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of 71.8 billion euros, up to and including Wednesday, 3 February 2016, following a request by the Bank of Greece.

The reduction of 0.2 billion euros in the ceiling reflected an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilisation of private sector deposits flows, the central bank said.