ECB reduces liquidity assistance to Greek banks

Reuters —  The European Central Bank lowered on Tuesday the ceiling for emergency liquidity assistance (ELA) Greek lenders can get from the Greek central bank to 89.7 billion euros from 91 billion euros, a banking source said.

“The ELA cap was lowered, in line with a request by the Bank of Greece, due to improving liquidity conditions,” the source told Reuters, speaking on condition of anonymity.

Greek banks have relied on emergency funding in recent months after a wave of deposit outflows