Investment banking firm Goldman Sachs has claimed that the European Central Bank is about provide 21 billion euros worth of cheap funding to Greek banks, by giving them the ability to use loans worth 139 billion euros as guarantee.

Goldman Sachs came t the conclusion after evaluation the ECB’s recent announcements regarding 669 billion euros worth of funding, with the investing firm arguing that the regional Eurozone banks could secure 342 billion euros worth of low-interest loans.

According to this scenario, Greek banks would receive an estimated 21 billion euros, since the ECB’s methods provide loans worth 34.5% of their assets, which in this case are 139 billion euros worth of loans.

It should be noted that the ECB’s funding towards Greek banks dropped by 8.18 billion euros to 50.66 billion euros in May, while emergency funding provided by the Bank of Greece via the ELA dropped by 3.12 billion euros for a total of 3.6 billion euros.