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Emergency assistance to Greek banks drops further in Feb-cenbank
March 26, 2013 / 3:31 PM / in 5 years

Emergency assistance to Greek banks drops further in Feb-cenbank

ATHENS, March 26 (Reuters) - Emergency liquidity assistance (ELA) to Greek lenders from their own central bank dropped by a third in February, in a sign of progressing normalisation of the country’s banking system, Bank of Greece data showed on Tuesday.

ELA funding fell to 21.16 billion euros at end-February from 31.42 billion euros the previous month. European Central Bank (ECB) funding to Greek banks also dropped slightly over the same period, to 75.23 billion from 76.22 euros, according to a balance sheet published by the Bank of Greece.

ECB funding comes cheaper for Greek banks because it is about two percentage points lower than ELA funding.

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