ECB funding to Greek banks falls by 1.5b euros in July

[ATHENS] European Central Bank funding to Greek lenders fell by 1.5 billion euros in July due to cash deposit inflows that month, Bank of Greece data showed on Monday.

Emergency funding, which is more costly than borrowing from the European Central Bank, fell to 85.3 billion euros in July from 86.8 billion in June, the data showed.

Greek banks have relied on the so-called emergency liquidity assistance (ELA) from the Greek central bank since February after being cut off from the ECB's funding window due to stalled bailout talks between the Greek government and its lenders.

The cap on ELA funding which Greek banks can draw stands at 91 billion euros.

REUTERS