Reuters logo
Emergency central bank funding to Greek banks drops by 3.7 bln euros in August
September 14, 2017 / 2:36 PM / 2 months ago

Emergency central bank funding to Greek banks drops by 3.7 bln euros in August

ATHENS, Sept 14 (Reuters) - Emergency central bank funding to Greek lenders dropped by 3.7 billion euros ($4.40 billion), or 11 percent, in August 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 30.9 billion euros ($36.77 billion) from 34.6 billion euros at the end of July, 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. (Reporting by Angeliki Koutantou)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below