ECB lowers ELA cap for Greek banks as liquidity conditions improve
ATHENS (Reuters) - The European Central Bank lowered on Thursday the ceiling for emergency liquidity assistance (ELA) Greek lenders can tap from the Greek central bank to 89.1 billion euros from 89.7 billion euros, a banking source said.
"The ELA cap was lowered due to conditions and inflows normalising," the source told Reuters, speaking on condition of anonymity.
Greek banks, who were shut for three weeks over the summer, have relied on emergency funding in recent months after a wave of deposit outflows.
(1 US dollar = 0.8909 euro)
(Reporting by George Georgiopoulos, editing by Deepa Babington)
