ECB Lowers Emergency Funding Cap for Greek Banks to €45.3 Billion

Thursday, May 18th, 2017
Last Update: 13:24

On Thursday the Bank of Greece (BoG) announced that the European Central Bank (ECB) has lowered the emergency funding cap for Greek banks to 45.3 billion euros.

The emergency funding has been a life line to Greek banks as they have relied on emergency liquidity assistance (ELA) since February 2015, even though borrowing from the fund is more costly than borrowing from the ECB directly.

The BoG said that the ELA ceiling is valid until June 8 and that this move by the ECB has come about due to liquidity conditions and Greece’s private sector deposit flows, according to Reuters.

See Also:

Thank you for contacting

Thank you for your enquiry to Villas, in partnership with ISV. Our Villa Experts will get back to you very soon with more information on your Greece villa holiday!

The contact form was not sent. Please contact us via email at [email protected]

All form fields are required.

If you want to add, edit or delete a Business page, CLICK HERE to create a Account