ECB lowers borrowing ceiling for Greek banks

European Central Bank’s governing board on Thursday did not object to a request by the Bank of Greece to lower the borrowing ceiling of the ELA mechanism for Greek banks by 1.2 billion euros to 45.3 billion by Thursday, 8 Jun 2017.

The central bank said that this reduction in the borrowing ceiling reflected positive developments in the liquidity of Greek banks, particularly positive deposit flows by the private sector.