ECB Lowers Cap on Emergency Funding for Greek Banks by 2.5 Billion Euros

atmThe European Central Bank (ECB) lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 2.5 billion euros to 58.6 billion euros, the Bank of Greece (BoG) said on Thursday.

The move reflected an improvement in the liquidity conditions in the Greek banking system and the stabilization of private sector deposit flows, it said.