Sources: ECB Raises Emergency Funding for Greek Banks

The European Central Bank has raised the cap on emergency liquidity assistance (ELA) that Greek banks can draw from the country’s central bank by 700 million euros, two banking sources told Reuters on Wednesday.

The increase takes the ELA ceiling to 71.8 billion euros. The ECB has raised the cap in increments, keeping pressure on Athens to strike a deal with its creditors.

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