April 14, 2015 / 7:01 PM / 5 years ago

ECB raises emergency funding cap for Greek banks by 800 mln euros-source

ATHENS, April 14 (Reuters) - The European Central Bank raised the cap on emergency liquidity assistance (ELA) that Greek banks can draw from the country’s central bank by 800 million euros, taking the ELA ceiling to 74 billion euros, a banking source told Reuters on Tuesday.

“Greek banks have used up about 70 billion euros of ELA funding so there is a margin of 4 billion left,” the source said, declining to be named.

The ECB has raised the cap in increments, keeping pressure on Athens to strike a deal with its creditors. (Reporting by George Georgiopoulos; Editing by Karolina Tagaris)

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