The funds were paid Monday, Panayotis Thomopoulos, head of the fund, said in a phone interview. The banks will receive bonds issued by the European Financial Stability Facility, which approved the transfer last week.

National Bank of Greece SA, EFG Eurobank Ergasias SA, Alpha Bank SA and Piraeus Bank SA are relying on the Bank of Greece’s Emergency Liquidity Assistance program for funding after being cut off from the ECB because their core Tier 1 capital ratios, a measure of financial strength, dropped below 8 percent. Meanwhile, deposit outflows jumped after parties opposed to the nation’s second bailout gained in May 6 elections, raising the prospect of Greece leaving the 17-nation euro region.

National Bank will receive the largest capital injection of about 7 billion euros, followed by Piraeus, which will get about 4.7 billion euros, Thomopoulos said. Greece’s four biggest banks posted a combined loss of 27.9 billion euros for 2011, arising out of the sovereign debt restructuring, the biggest ever. The banks have a combined market value of about 2.3 billion euros, based on Monday’s closing prices.