OpenLegislation

Chapter II. RESTRUCTURING COMMITMENTS

United Kingdom

Original text. Later amendments are not shown.

  1. (1)Division (1)
  2. (2)Division (2)
  3. (3)Division (3)
  4. (4)Division (4)
  5. (5)Division (5)
  6. (6)Support to foreign subsidiaries: For each foreign subsidiary, cumulatively from the Effective Date until 30 June 2018, the Bank shall not provide additional equity or subordinated capital for an amount larger than the higher of: (i) […]% of the RWA of that subsidiary on 31 December 2012; or (ii) EUR […] million. If the Bank intends to inject equity or subordinated debt to the foreign subsidiary for an amount higher than the defined threshold, it must request the Greek Authorities to seek a Commission decision to amend the restructuring plan.
  7. (7)Deleverage of non-Greek assets by 30 June 2018: The total size of the portfolio of foreign assets shall be reduced to a maximum amount of EUR […] billion by 30 June 2018 (foreign assets cap).
  8. (8)Division (8)
  9. (9)Division (9)
  10. (10)For any sale, the Hellenic Republic commits that:
  11. (11)Investment policy: Until 30 June 2017, the Bank shall not purchase non-investment grade securities.
  12. (12)Division (12)

Notes on Annex

Footnotes

f1

Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 108 of the treaty on the functioning of the European Union (OJ L 83, 27.3.1999, p. 1).