ATHENS Dec 13 Emergency central bank funding to
Greek lenders fell by 2.8 percent, or 1.3 billion euros, in
November compared to the previous month, Bank of Greece data
showed on Tuesday.
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 45 billion euros ($47.88
billion) at the end of November from 46.3 billion euros at the
end of October, the data showed.
Earlier this month the European Central Bank lowered the cap
on ELA liquidity Greek banks draw from the Bank of Greece by 200
million euros to 50.7 billion euros. The ceiling will be
reviewed on January 11.
($1 = 0.9398 euros)
(Reporting by Angeliki Koutantou; Editing By Karolina Tagaris)