The European Central Bank (ECB) has approved an emergency funding line for Greece’s four systemic banks, to be provided via the country's central bank, a banking source told Reuters yesterday (21.1).

Last week, tightening liquidity ahead of a national election on Jan. 25 prompted the Bank of Greece to ask the ECB to approve so-called emergency liquidity assistance (ELA) line for Greece's top banks. "The ELA line was approved for two weeks," the source said. "The issue will be looked at again after two weeks."