ECB lowers ELA limit to €88.9bn from €89.1bn previously

BoG announced yesterday that following a request to the ECB, the latter agreed to lower the ELA threshold for Greek banks to €88.9bn from €89.1n previously.

As per the same announcement, the reduction of €0.2bn in the ELA ceiling reflects an improvement of Greek banks’ liquidity, amid a reduction of uncertainty and the stabilisation of private sector deposits flows.

This came after the €0.6bn decrease in the ELA threshold to €89.1bn on September 3. According the BoG, the ELA ceiling will be reviewed on the next ECB’s Governing Council due October 6.