BoG: Greek banks slightly raise borrowing from Eurosystem in June

Greek banks slightly raised their borrowing from the Eurosystem in June, while the dependence from the ELA mechanism remained at zero levels, the Bank of Greece said in a report.

Greek banks’ borrowing from the European Central Bank was 8.6 billion euros at the end of June, from 8.06 billion euros a month earlier. Improving liquidity conditions in the banking sector combined with a gradual return of deposits made easier a full abolition of capital controls in Greece, as recommended by Bank of Greece governor Yannis Stournaras.

Private sector deposits grew 8.0 billion euros in 2018 after rising by 5.7 billion in 2017.