Greek banks lowered borrowing from ELA in September

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Greek banks lowered their borrowing from the ELA mechanism of the Bank of Greece by 2.4 billion euros in September compared with August, the central bank said in a report released on Thursday.

Greek banks’ borrowing from the ELA mechanism fell to 28.485 billion euros at the end of September from 30.857 billion a month earlier and 34,558 billion euros at the end of July 2017.

Last week the European Central Bank approved a request by the Bank of Greece to lower the ELA borrowing ceiling for Greek banks to 32.6 billion euros.

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