ELA cap.

Kathimerini English - - Focus -

The Euro­pean Cen­tral Bank low­ered the ceil­ing on emer­gency liq­uid­ity as­sis­tance (ELA) Greek banks draw from the do­mes­tic cen­tral bank by 100 mil­lion eu­ros to 4.9 bil­lion eu­ros, the Bank of Greece said yes­ter­day. The move re­flected im­proved liq­uid­ity con­di­tions, tak­ing into ac­count pri­vate sec­tor de­posit flows and banks’ ac­cess to whole­sale fi­nan­cial mar­kets, it said. The ELA ceil­ing is valid through to De­cem­ber 13. af­ter it reached its high­est level in 15 years last month, above 25 per­cent. Al­bayrak made the com­ments dur­ing a speech in the north­west­ern prov­ince of Bursa. He said eco­nomic ac­tiv­ity in Turkey is show­ing sig­nif­i­cant im­prove­ment and that the cur­rent ac­count would sur­prise at year-end.

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