The Bank of Cyprus reduced in September 2015 its dependence on the Emergency Liquidity Assistance (ELA) by €500m from €4.9b in August, according to figures released recently by the Central Bank of Cyprus.
The figures showed that at the end of September Bank of Cyprus financing from ELA was down to €4.9 billion from €5.4 billion in August.
Since the beginning of the year, the Bank reduced its dependence on ELA by €2.5 billion. At the end of December 2014, the ELA stood at €7.4 billion.
Source: Famagusta Gazette
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