Greek banks lowered borrowing from the Emergency Liquidity Assistance

On 8 November 2017 the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of 26.9 billion euros, up to and including Wednesday, 22 November 2017, following a request by the Bank of Greece.

The reduction of 1.7 billion euros in the 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.