ELA for Greek banks dropped 700 mln last month

11 April 2017
329 Views

Emergency central bank funding to Greek lenders dropped by 700 million euros, or 1.6 percent, in March compared to the previous month, Bank of Greece data showed on Tuesday.

Emergency funding, which is more costly than borrowing from the European Central Bank, fell to 42.4 billion euros from 43.1 billion euros at the end of February, the data showed.

Banks have relied on emergency liquidity assistance (ELA) drawn from the Greek central bank since February 2015 after being cut off from the ECB’s funding window due to stalled bailout talks between the government and its official lenders.

Their dependence on the ELA lifeline has declined since June last year, when the European Central Bank reinstated banks’ access to its cheap funding operations.

You may be interested

Govt dismisses press speculation: FinMin Tsakalotos to lead negotiations over third program review
FINANCE
shares18 views
FINANCE
shares18 views

Govt dismisses press speculation: FinMin Tsakalotos to lead negotiations over third program review

Panos - Aug 17, 2017

The leftist-rightist coalition on Wednesday dismissed a latest round of press speculation over the standing of Greek Finance Minister Euclid…

Weather forecast: Mostly Fair
GREECE
shares8 views
GREECE
shares8 views

Weather forecast: Mostly Fair

Panos - Aug 17, 2017

Mostly fair weather and northerly winds are forecast for Thursday. Wind velocity will reach 7 on the Beaufort scale. Scattered…

Athens Newspapers Headlines
GREECE
shares36 views
GREECE
shares36 views

Athens Newspapers Headlines

Panos - Aug 17, 2017

Leave a Comment

Your email address will not be published.