Greek banks further reduced their borrowing from the Eurosystem in April, a development reflecting mainly lower borrowing from the ELA mechanism.
Greek banks’ dependence from the Eurosystem fell by 3.3 billion euros to 21.6 billion in April, from 24.9 billion in March. B
orrowing from ELA fell to 10.2 billion euros in April from 13.6 billion in March, while borrowing directly from the European Central Bank rose slightly to 11.4 billion euros from 11.3 billion, respectively.
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