ECB agrees to reduce ELA for Greek banks by 200 million euros

The European Central Bank has reduced the Emergency Liquidity Assistance (ELA) to Greek banks by 300 million euros, at the request of the Bank of Greece.

According to the statement issued by the Bank of Greece “the Governing Council of the ECB did not object to an ELA-ceiling for Greek banks of €85.7 billion, up to and including Thursday, 3 December 2015”.

The 300-million-euro reduction reflects “an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilization of private sector deposits flows” the official statement concluded.