ECB lowers ELA cap for Greek banks as liquidity conditions improve

September 17, 2015 7:48 AM

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ATHENS, Sept 17 The European Central Bank on Wednesday lowered the ceiling for emergency liquidity assistance (ELA) Greek lenders can tap from the Greek central bank to 88.9 billion euros from 89.1 billion euros, the Bank of Greece said on Thursday.

"This reduction of 0.2 billion euros in the ceiling, requested by the Bank of Greece, reflects an improvement of the liquidity situation of Greek banks, amid a reduction of uncertainty and the stabilization of private sector deposits flows," the central bank said.

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