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Greek banks' ECB funding rises in December, ELA down
January 21, 2013 / 4:01 PM / in 5 years

Greek banks' ECB funding rises in December, ELA down

ATHENS, Jan 21 (Reuters) - European Central Bank funding to Greek banks rose by 13.75 billion euros in December while emergency liquidity assistance from the country’s central bank fell slightly, Bank of Greece data showed on Monday.

Greek banks resumed funding directly from the European Central Bank in December. ECB funding is about two percentage points cheaper than ELA funding.

Lending from the European Central Bank to Greek lenders rose to 19.35 billion euros at the end of December from 5.605 billion a month earlier, the Bank of Greece said.

In contrast, Greek banks had tapped a total of 101.85 billion euros in emergency liquidity assistance (ELA) from the Greek central bank at end-December, down from 123.29 billion in November.

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