Greek banks' ECB funding rises in July, ELA falls
ATHENS Aug 20 (Reuters) - European Central Bank funding to Greek banks rose by 900 million euros in July while emergency liquidity assistance (ELA) from the country's central bank decreased by 4.86 billion euros, Bank of Greece data showed on Tuesday.
Greek banks depend on central bank funding for liquidity. Borrowing from the ECB is about two percentage points cheaper than ELA funding.
ECB funding to Greek banks rose to 62.04 billion euros in July from 61.14 billion euros in June, while emergency liquidity assistance from the Bank of Greece fell to 16 billion euros from 20.86 billion euros a month earlier.
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