The Bank of Cyprus reduced in September 2014 its dependence on the Emergency Liquidity Assistance (ELA) by €1b, dropping to €7,68b from €8,68b in August.
According to data published on Tuesday by the Central Bank of Cyprus, this reduction is due to the fact that the Bank paid off an amount of €800 million after the conclusion of the increase of its share capital by €1 billion in one month.
The dependence of the Cypriot banks on ELA reached in March 2013 a historic high, climbing to €11,40 billion.
Source: CNA
