Greek Banks Further Cut Borrowing from ECB, ELA in February



ecbGreek banks in February further reduced their dependence on borrowing from the European Central Bank and the Emergency Liquidity Assistance mechanism of the Bank of Greece.
The central bank said that borrowing from these mechanisms at the end of February fell to 104 billion euros, from 106 billion a month earlier. This development reflects a reduction in borrowing from the Emergency Liquidity Assistance mechanism (ELA) to 67.9 billion euros in February from 68.8 billion in January, and a decline in borrowing directly from ECB to 36.2 billion euros from 37.2 billion, over the same periods, respectively.
(source: ana-mpa)