ECB lowers ELA ceiling for Greek banks

The European Central Bank (ECB) further lowered the Emergency Liquidity Assistance (ELA) borrowing ceiling for Greek banks, the Bank of Greece announced on Thursday.

The Governing Council of the ECB, in a regular meeting on Wednesday, did not object to an ELA-ceiling for Greek banks of 32.6 billion euros, up to and including Thursday, October 26, following a request by
the Greek central bank, the announcement said.

The reduction of 1.0 billion euros in the ceiling reflects an improvement in the liquidity situation of Greek banks, taking into account private sector deposit flows.