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27 May 2015
ECB decides to leave Greece’s ELA limit unchanged at EUR 80.2 billion
FXStreet (Mumbai) - According to sources from the European Central Bank (ECB), the Executive Board decided on Wednesday to leave Greece’s emergency liquidity assistance (ELA) limit unchanged at its current level of EUR80.2 billion.
The ECB raised the ELA by a modest EUR200 million last week, suggesting that Greek banks had still some EUR3 billion of liquidity left even after a spike in deposit withdrawals in recent days.
According to Greek Kathimerini newspaper, in the past few days, and particularly on Tuesday, there has been a significant increase in deposit outflows from Greek banks.
Kathimerini noted, “Credit sector professionals reported that deposit outflows on Tuesday alone came to EUR300 million, against about EUR100 million per day in recent days. They said that while this amount is quite high, the situation is under control as citizens are remaining calm on the positive messages from Greek officials."
The ECB raised the ELA by a modest EUR200 million last week, suggesting that Greek banks had still some EUR3 billion of liquidity left even after a spike in deposit withdrawals in recent days.
According to Greek Kathimerini newspaper, in the past few days, and particularly on Tuesday, there has been a significant increase in deposit outflows from Greek banks.
Kathimerini noted, “Credit sector professionals reported that deposit outflows on Tuesday alone came to EUR300 million, against about EUR100 million per day in recent days. They said that while this amount is quite high, the situation is under control as citizens are remaining calm on the positive messages from Greek officials."