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ECB lowers ELA ceiling for Greek banks

The Bank of Greece (BoG) on Thursday announced that the European Central Bank’s governing council did not object to an ELA-ceiling for Greek banks set at 28.6 billion euros, up to and including Wednesday Nov. 8, following a request by the former.

The reduction of 4.0 billion euros in the ceiling reflects an improvement of the liquidity situation of Greek banks, taking into account flows stemming from private sector deposits and from the banks’ access to wholesale financial markets, a BoG press release read.