ECB Raises Greek Banks’ Emergency Liquidity Cap by 800 Mln Euros

The European Central Bank (ECB) has raised the cap on Emergency Liquidity Assistance (ELA) available to Greek banks by 800 million euros late on Tuesday.

The increase takes the ELA ceiling to 74 billion euros (from 73.2 billion last week, after an increase of 1.2 billion euros). The central bank will re-examine the cap in next week’s meeting.

Sources said Greek banks had already drawn approximately 70 billion euros from ELA, leaving a safety margin of about 4 billion euros.

(source: ana-mpa)