ECB lowers borrowing ceiling for Greek banks

The European Central Bank accepted a request by the Bank of Greece to lower the borrowing ceiling for Greek banks by 1.3 billion euros. The Greek central bank, in an announcement, said this development reflected an improving liquidty of Greek banks, including flows from private sector deposits and banks’ access to financial markets. The borrowing ceiling from the ELA mechanism is lowered to 10.9 billion euros by/and Wednesday, 11 July.