Greek banks further reduced their borrowing from the Emergency Lending Assistance mechanism

Greek banks further reduced their borrowing from the Emergency Lending Assistance mechanism ELA after the governing council of the European Central Bank approved a request made by the Bank of Greece to lower the borrowing ceiling by 100 million euros to 51.8 billion euros, up to and including Thursday, 20 October 2016.

The reduction of 0.1 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.