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 600 million euros to 43.6 billion by Wednesday, 5 July 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.