Cyprus Mail

BoC’s ELA drops to €3.2bn or below

Bank of Cyprus’s outstanding European Central Bank emergency liquidity fell to €3.2bn or below at the end of April, the first month following the completion of Cyprus’s adjustment programme, the Central Bank of Cyprus said.

The Central Bank of Cyprus’s “other claims on euro area credit institutions denominated in euro,” which includes emergency liquidity assistance extended to domestic banks stood at €3.2bn in April, after falling by almost €98.5m in a month, the supervisory authority said in a statement on its website. Bank of Cyprus’s emergency liquidity assistance in February was €3.4m.

The lender, which inherited the bulk of the emergency liquidity when it absorbed the operations of Cyprus Popular Bank, also known as Laiki in March 2013, saw the outstanding ELA peak at €11.6bn a month later.

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