Greek banks reduced borrowing from Eurosystem to 26.2 billion euros in February

Greek banks further reduced their dependence from the Eurosystem to 26.2 billion euros in February, from 29.1 billion in January, the Bank of Greece said.

In its monthly report, released on Monday, the central bank said that Greek bank’s borrowing from the European Central Bank eased slightly to 11.1 billion euros in February, from 11.7 billion a month earlier, while borrowing from the ELA mechanism dropped to 15.1 billion euros in February from 17.4 billion in January.

ECB’s board, in a meeting on March 8, did not object to a request by the Bank of Greece to set a borrowing ceiling from the ELA mechanism for Greek banks to 16.6 billion euros up to and including Wednesday, 11 April 2018.