FRANKFURT (Reuters) - The European Central Bank kept Emergency Liquidity Assistance (ELA) steady for Greek banks but adjusted the haircut on the collateral those lenders offer as security, the ECB said on Monday.

"The Governing Council of the European Central Bank decided today to maintain the provision of ELA to Greek banks at the level decided on 26 June 2015 after discussing a proposal from the Bank of Greece," the ECB said in a statement.

It said that the Governing Council of decision makers was "determined to use all the instruments available within its mandate".

(Reporting By John O'Donnell; editing by Balazs Koranyi)