3 Issuing costs of state guaranteed bonds - Financial Risk and ...
3 Issuing costs of state guaranteed bonds - Financial Risk and ...
3 Issuing costs of state guaranteed bonds - Financial Risk and ...
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A1.1.4 Greece 26<br />
Implementation date <strong>of</strong> scheme<br />
19 November 2008<br />
End date <strong>of</strong> entry into scheme<br />
31 December 2010 (extended from 19 November 2009)<br />
Fee for instrument<br />
Annex 1 Eligibility criteria for <strong>state</strong> guarantees<br />
For short term (less than 1 year): 50 bps or 25 bps when collateral is provided<br />
For medium term (between 1 <strong>and</strong> 5 years): 50 bps (25 bps in case <strong>of</strong> collateral) plus the median <strong>of</strong><br />
the 5-year CDS spread <strong>of</strong> the credit institution concerned for the period 1-Jan-2007 to 31-Aug-<br />
2008<br />
Maximum tenor<br />
3 years<br />
Institution criteria<br />
Credit institutions authorised to operate in Greece by license from the Bank <strong>of</strong> Greece, including<br />
subsidiaries <strong>of</strong> foreign institutions<br />
Instrument eligibility<br />
All debt instruments are eligible, except for subordinated debt <strong>and</strong> interbank deposit<br />
Scale <strong>of</strong> scheme<br />
€30 billion<br />
26<br />
For details see:<br />
http://ec.europa.eu/eu_law/<strong>state</strong>_aids/comp-2008/n560-08.pdf;<br />
http://ec.europa.eu/eu_law/<strong>state</strong>_aids/comp-2010/n260-10-en.pdf.<br />
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