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3 Sep 2015
ECB cuts ELA for Greek banks by around €600 million - Reuters
FXStreet (Mumbai) - The European Central Bank (ECB) reduced the ceiling of Emergency Liquidity Assistance (ELA) available for Greek banks, Reuters reported on Thursday.
The central bank trimmed the ELA ceiling by around €600 million to about €89.1 billion.
It was already the second cut, as around two weeks ago the emergency vehicle was trimmed by about €1.3 billion, reportedly on the request of the Bank of Greece.
The decision reflected increasing confidence in the Greek banking sector after the country managed to seal a bailout deal with its creditors.
The central bank trimmed the ELA ceiling by around €600 million to about €89.1 billion.
It was already the second cut, as around two weeks ago the emergency vehicle was trimmed by about €1.3 billion, reportedly on the request of the Bank of Greece.
The decision reflected increasing confidence in the Greek banking sector after the country managed to seal a bailout deal with its creditors.