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Emergency central bank funding to Greek banks drops by 300 mln euro in April
May 11, 2017 / 2:28 PM / 7 months ago

Emergency central bank funding to Greek banks drops by 300 mln euro in April

ATHENS, May 11 (Reuters) - Emergency central bank funding to Greek lenders dropped by 300 million euros, or 0.7 percent, in April compared to the previous month, Bank of Greece data showed on Thursday.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 42.1 billion euros ($45.75 billion) from 42.4 billion at the end of March, the data showed.

Greek banks have relied on emergency liquidity assistance (ELA) drawn from the Greek central bank since February 2015 after being cut off from the ECB’s funding window due to stalled bailout talks between the government and its official lenders.

Their dependence on the ELA emergency lifeline has declined since June last year when the European Central Bank reinstated banks’ access to its cheap funding operations. ($1 = 0.9203 euros) (Reporting by Angeliki Koutantou)

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