On the occasion of the European Central Bank’s new reduction in Emergency Liquidity to Banks (ELA), Bank of Greece Governor Yiannis Stournaras stated that lowering the ceiling of € 0.2 billion reflects the improvement of the liquidity of Greek banks, taking into account the increasing flows in private sector deposits and the access of banks to financial markets.

Also, due to the recent decline in the shares of the banks in the Stock Exchange, Mr. Stournaras commented that stock market developments in the banking sector in the past few days are not related to the health of Greek banks, but to purely external factors such as the rise in interest rates internationally and especially in neighboring countries.