The European Central Bank has raised the funding cap on its emergency backing for Greece's banks, but there are still worries that they may be the first domino to fall in the path to a possible exit of Greece from the euro zone.
The ECB raised the funding cap on its Emergency Liquidity Assistance (ELA) for Greece's banks by 3.3 billion euros ($3.7 billion) Friday, according to a CNBC source.
The decision, made in a conference call Friday and first reported by Reuters, followed a meeting of the euro zone's finance ministers on Thursday, where the ability of the country's lenders to open up for business next week was questioned.
It comes as a specter of a run on Greek banks is looming, after yet another round of failed rescue-for-reforms talks.
The valuation of the Greek banking sector has fallen by nearly a third since the start of June as concerns about the risk of Greece leaving the euro zone grow.