May 14, 2014 / 2:51 PM / in 4 years

Greek banks' ECB, ELA funding rises in April

ATHENS, May 14 (Reuters) - European Central Bank (ECB) funding to Greek banks rose in April by 1.03 billion euros while emergency liquidity assistance (ELA) from the country’s central bank increased by 243 million euros, Bank of Greece data showed on Wednesday.

ECB funding to Greek banks rose to 58.84 billion euros from 57.81 billion in March, while emergency liquidity assistance from the Bank of Greece inched up to 3.12 billion euros in April from 2.88 billion in the previous month.

Greek banks still depend on central bank funding for liquidity. Lower exposure to emergency funding from the Bank of Greece helps boost their net interest income as borrowing from the ECB is about 2 percentage points cheaper than ELA funding. (Reporting by Renee Maltezou and George Georgiopoulos)

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