Hellenic Financial Stability Fund

Hellenic Financial Stability Fund is rated 3 out of 5 in the category financial services. Read and write reviews about Hellenic Financial Stability Fund. The Hellenic Financial Stability Fund (HFSF) was founded in July 2010 as a private legal entity, is fully independent and does not belong to the public sector. It has administrative and financial autonomy, operates exclusively under the rules of the private economy and is governed by a three member Executive Board and a nine member General council, comprised of international financial sector experts. The objective of the Fund is to contribute to the maintenance of the stability of the Greek banking system, for the sake of public interest. In pursuing this objective, the Fund among others: i) Provides capital support to credit institutions according to the provisions of the present Law in compliance with EU state aid rules. ii) Monitors and assesses how credit institutions, to which capital support is provided by the Fund, comply with their restructuring plans, safeguarding at the same time the business autonomy of the credit institution. The Fund ensures that such credit institutions operate on market terms and that private sector participation in them is enhanced on the basis of transparent procedures and of the EU legislation on state aid. iii) Facilitates the management of the non-performing loans of the credit institutions. iv) Has signed Relationship Framework Agreements (RFAs) with all credit institutions that are or have been beneficiaries of financial assistance by the European Financial Stability Fund (EFSF) and the European Stability Mechanism (ESM) in order to provide for the implementation of its objectives and rights as long as the Fund hold shares or other capital instruments, or the Fund monitors the restructuring plans of the above-mentioned credit institutions The Fund’s registered office is in Athens and its duration will be until December 31st, 2022. By decisions of the Minister of Finance, the duration of the Fund may be extended, if deemed necessary for the fulfillment of its scope.