The European Central Bank (ECB) decided on Wednesday to increase the maximum Emergency Liquidity Assistance (ELA) that Greek banks can get from the Bank of Greece by 400 million euros, according to sources.
This brings the total funding of Greek banks through ELA to 69.8 billion euros, from 69.4 billion euros. The review of the ceiling will take place next week. According to the monthly accounting statement for February released by the Bank of Greece a few days ago, the borrowing of Greek banks through ELA came to 65.6 billion euros by the end of February.
After today’s (Wednesday) ceiling rise the banks will have access to an additional ELA funding of over 3 billion euros.