Emergency central bank funding to Greek banks drops by 2.9 billion euros

13 December 2017
427 Views

Emergency central bank funding to Greek lenders dropped by 2.9 billion euros (£2.5 billion), or 12.7 percent, in November 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, dropped to 19.85 billion euros ($23.38 billion) from 22.75 billion euros at the end of October, the data showed.

Greek 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 creditors.

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

You may be interested

US Embassy: Decision to release terrorist Savvas Xiros a “disservice to memory of victims”
GREECE
shares26 views
GREECE
shares26 views

US Embassy: Decision to release terrorist Savvas Xiros a “disservice to memory of victims”

makis - Oct 19, 2018

The US Embassy in Athens commented on the decision by Greek authorities to release convicted terrorist of November 17th, Zavvas…

FYROM vote: PM Zaev has secured backing of parliamentary majority, local media reports
SLIDE
shares30 views
SLIDE
shares30 views

FYROM vote: PM Zaev has secured backing of parliamentary majority, local media reports

makis - Oct 19, 2018

According to media reports in FYROM, who cite unofficial parliamentary sources, the country’s PM Zoran Zaev has secured the required…

Chios: A mastic-scented island with fascinating history
GREECE
shares132 views
GREECE
shares132 views

Chios: A mastic-scented island with fascinating history

Panos - Oct 19, 2018

Much as Chios is famous for its mastic, it is not the only “magic” one can find on this island.…

Leave a Comment

Your email address will not be published.