Two Greek banks apply for ELA funding-press

Two Greek banks have requested ELA funding, the move comes as a “response to pressing liquidity resulting from growing outflow of deposits as well as the acquisition of T-Bills forced on by the state”.

According to Kathimerini Newspaper, ELA funding costs 1.55% vs 0.05% from ECB.

The two banks have requested more than EUR 5.0bn liquidity. The requests will be discussed in ECB next Wednesday.