ELA ceiling reduced to €86bn at the request of the Bank of Greece

The European Central Bank had carried out a reduction of the emergency liquidity assistance (ELA) ceiling towards Greek banks to 86 billion euros.

The reduction, from 86.9 billion euros, came at the request of the Bank of Greece, due to the improvement of liquidity in Greek banks,as well as a stabilization of deposit flows.

The ECB had previously reduced the emergency liquidity assistance available to Greek banks by 1 billion euros in October, again at the request of the Bank of Greece.