Emergency central bank funding to Greek banks drops by 2.9 billion euros
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.
You may be interested
JOKER results: 19/05/2019Panos - May 19, 2019
The winning numbers from the JOKER draw are as follows:
Lotto results: 18/05/2019Panos - May 18, 2019
The winning numbers from the Lotto draw are as follows:
OH-58D Kiowa Warrior helicopters and CH-47 Chinook arrive in Greece (photos)makis - May 17, 2019
The American attack helicopters “Kiowa Warrior” arrived in Greece yesterday and are expected to reinforce the capabilities of the Hellenic…