BOCY slashes ELA de­pen­dence by € 300 mln

Financial Mirror (Cyprus) - - FRONT PAGE -

The Bank of Cyprus has paid back a fur­ther EUR 300 mln in Emer­gency Liq­uid­ity As­sis­tance (ELA) in July, ac­cord­ing to Cen­tral Bank of Cyprus data, thus low­er­ing its de­pen­dence to the fa­cil­ity from EUR 5.9 bln in June to 5.6 bln. At the end of 2014, the ELA de­pen­dence had been EUR 7.4 bln. The bank is ex­pected to an­nounce its first-half re­sults later on Wed­nes­day. The cen­tral bank said that the de­pen­dence of the Cypriot bank­ing sys­tem from di­rect fi­nanc­ing from the Euro­pean Cen­tral Bank fell in July by EUR 6 mln to 756 mln.

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