UPDATE 1-Greek banks tap more ELA funds in March as deposits drop

April 15, 2015 3:12 PM

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ATHENS, April 15 (Reuters) - Greek banks made more use of so-called emergency liquidity assistance (ELA) in March, increasing their borrowing by 4.4 percent from the previous month as an outflow of deposits continued, Bank of Greece data showed on Wednesday.

Banks switched to using ELA, provided by the Greek central bank, in February after being cut off from the ECB's funding window after the new government stalled the country's bailout programme - a condition for access to direct ECB funding.

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