Greek banks reported in March another decrease in deposits, for the tenth consecutive month, the rate of deposits flight, however, being significantly slower compared to previous months.
According to the Bank of Greece, deposits of households and companies fell by 1.91 billion euro, amounting to 138.55 billion euro.
The situation of the banking system seems to have improved compared to February, when the deposit base shrunk by nearly 7.5 billion euro.
However, the reduced rate of deposits flight does not change the fact that deposits in March fell to their lowest level in 10 years, which shows the increased uncertainty of Greek citizens over the negotiations with the country’s creditors.
The main support for Greek banks, in view of deposits flight, is the Emergency Liquidity Assistance ELA of the European Central Bank. Earlier on Wednesday, the Governing Council of the European Central Bank approved another 1.4 billion euro increase in ELA and the total amount of emergency liquidity reached 76.9 billion euro.
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