European Central Bank raises ELA ceiling for Greek banks once more

The European Central Bank announced that it has increased the Emergency Liquidity Assistance for Greek banks, at the request of the Bank of Greece. Once again, it has not been announced how much funding was provided.

Sources from the ECB noted that they will convene to decide on further raising the ELA ceiling in the next 24 hours, should it be deemed necessary. So far Greek banks have received over 90 billion euros from the European Central Bank’s ELA mechanism.