The Bank of Greece has announced that the Governing Council of the European Central Bank has reduced the ceiling of Emergency Liquidity Assistance (ELA) for Greek banks to €51.1 billion, up to and including Wednesday, 16 November 2016.

The reduction by 0.7 billion euros came at the request of the Bank of Greece and reflects an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilization of private sector deposits flows.