European Central Bank lowers ELA ceiling for Greek banks

The governing council of the European Central Bank did not object to an ELA-ceiling for Greek banks of 22.0 billion euros on January 10, 2018, up to and including February 7, 2018, following a request by the Bank of Greece, it said on Wednesday.

The Greek central bank, in an announcement, said that the reduction of 2.8 billion euros in the ELA ceiling reflects an improvement of the liquidity situation of Greek banks, taking into account flows stemming from private sector deposits and from the banks’ access to wholesale financial markets.