ECB Raises ELA Cap for Greek Banks by €900 Mln

Draghi_ECBAccording to reports, the European Central Bank (ECB) Governing Council decided on Wednesday to raise Emergency Liquidity Assistance (ELA) to Greek banks by another 900 million euros.

The ECB had raised the ELA cap by the same amount a week ago. If the reports are accurate, the ELA cap for Greek banks will now be around 90.4 billion euros.

Greece has been under a capital controls regime since June 28.