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Greek banks lowered borrowing from ELA in September

Greek banks lowered borrowing from ELA in September

Greek banks lowered their borrowing from the ELA mechanism of the Bank of Greece by 2.4 billion euros in September compared with August, the central bank said in a report released on Thursday.

Greek banks’ borrowing from the ELA mechanism fell to 28.485 billion euros at the end of September from 30.857 billion a month earlier and 34,558 billion euros at the end of July 2017.

Last week the European Central Bank approved a request by the Bank of Greece to lower the ELA borrowing ceiling for Greek banks to 32.6 billion euros.

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