ATHENS Oct 13 Emergency central bank funding to
Greek lenders fell by 2.6 percent, or 1.3 billion euros ($1.46
billion) in September compared to the previous month, Bank of
Greece data showed on Thursday.
Banks have relied on emergency liquidity assistance (ELA)
drawn from the Greek central bank since February last year after
being cut off from the ECB's funding window due to stalled
bailout talks between the government and its official lenders.
Their dependence on the ELA emergency lifeline has declined
since late June when the European Central Bank reinstated banks'
access to its cheap funding operations.
Emergency funding, which is more costly than borrowing from
the European Central Bank, dropped to 47.6 billion euros
($53.32 billion) at the end of September from 48.9 billion euros
at the end of August, the data showed.
Last week the European Central Bank lowered the cap on ELA
liquidity Greek banks draw from the Bank of Greece by 100
million euros to 51.8 billion euros. The ceiling will be
reviewed on October 20.
($1 = 0.8928 euros)
(Reporting by George Georgiopoulos)