Bank of Greece raises borrowing ceiling for Greek banks

The Bank of Greece on Thursday announced it was raising the borrowing ceiling for Greek banks by 400 million euros through the emergency liquidity assistance mechanism (ELA).

The central bank, in a report, said that on 22 March 2017 the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of 46.6 billion euros, up to and including Wednesday, 5 April 2017, following a request by the Bank of Greece.

The increase of 40 million euros in the ceiling reflects developments in the liquidity situation of Greek banks, taking into account private sector deposits flows.