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Athens Macedonian News Agency: News in English, 15-12-03
CONTENTS
[01] ECB lowers ELA ceiling for Greek banks by 7.8 bln euros
[01] ECB lowers ELA ceiling for Greek banks by 7.8 bln euros
European Central Bank on Thursday significantly lowered the borrowing
ceiling for Greek banks through the Emergency Liquidity Assistance
mechanism (ELA).
The ECB approved a recommendation by the Bank of Greece to lower the ELA
ceiling by 7.8 billion euros to 77.9 billion euros until Wednesday, 16
December. This decision reflects an improving liquidity condition in Greek
banks, as uncertainty eased and private sector deposit flows stabilised,
and the achieved progress in a recapitalisation process of Greek banks.
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