Greek banks raised borrowing from ELA in February

Greek banks slightly raised their borrowing from the emergency liquidity assistance mechanism (ELA) in February, the Bank of Greece said on Monday. The central bank said that Greek banks’ borrowing from ELA grew to 43.1 billion euros in February, from 42.8 billion in January, while direct borrowing from the European Central Bank fell to 18.7 billion euros from 20.2 billion euros, respectively.

Greek banks’ dependence from both the ELA and the ECB fell to 61.9 billion euros in February, from 63 billion in January.