ECB lowers borrowing ceiling for Greek banks

European Central Bank lowered the borrowing ceiling for Greek banks from the ELA mechanism by 200 million euros, the Bank of Greece said on Thursday.

The central bank, in a report, said that on 16 November 2016 the Governing Council of the European Central Bank did not object to an ELA-ceiling for Greek banks of 50.9 billion euros, up to and including Thursday, 8 December 2016, following a request by the Bank of Greece.

The reduction of 0.2 billion euros in the ceiling reflects an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilization of private sector deposits flows.