The Bank of Cyprus has announced that the Emergency Liquidity Assistance has been reduced by €5,5 bn since its peak of €11,4 bn in April 2013, while during 2015 €1,5 bn of ELA has been repaid.
“Following its announcement dated 5 June 2015 regarding the partial repayment of a bond by the Republic of Cyprus, the Bank of Cyprus Public Company Ltd (the “Bank” or the “Group”) announces that it has proceeded with the repayment of €500 mn of Emergency Liquidity Assistance (ELA) and €260 mn of European Central Bank (ECB) funding,” the statement said.
As a result, ELA and ECB funding have been reduced to a current level of €5,9 bn and €500 mn, respectively, it added.
In total, ELA has been reduced by €5,5 bn since its peak of €11,4 bn in April 2013, while during 2015 €1,5 bn of ELA has been repaid.
CNA KST/MAN/MM/2015
ENDS, CYPRUS NEWS AGENCY