Greek bank borrowing from ECB down in October

Greek banks’ borrowing from the European Central Bank (ECB) fell by 2 percent at end October to 92.4 billion euros from 94.3 billion euros at end September, according to the Bank of Greece’s monthly balance sheet released on Thursday.

 

Greek bank borrowing from the ECB was 49.7 billion euros at the beginning of 2010, and the sharp increase reflects the difficulty of the country’s credit institutions in seeking financing on the inter-bank market.