Hellenic Financial Stability Fund – now part of Growthfund, the National Fund of Greece

The mission and responsibilities of HFSF now continue under Growthfund. Follow us @Growthfund, the National Fund of Greece. HFSF was founded in July 2010 and was governed by private law, with administrative and financial independence, operating purely in accordance with private economic activity standards, and it does not belong to the public sector. Managed by a Board of Directors and comprising of international financial sector experts, the objective of HFSF was to contribute to the maintenance of the stability of the Greek banking system, for the sake of public interest and to the effective disposal of shares or other financial instruments issued by credit institutions. In pursuing this objective, the HFSF among others a) provides capital support to credit institutions according to the provisions of the present HFSF Law in compliance with EU state aid rules and 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, b) enters into relationship framework agreements or amended relationship framework agreements 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 HFSF holds shares or other capital instruments, and exercises its shareholding and special rights deriving from its participation in the credit institutions to which capital support is provided by the HFSF as provided in HFSF law and relevant legislative or regulatory provisions, and c) disposes in whole or partially and in accordance with its Divestment Strategy its participation in the financial instruments issued by the credit institutions in which it is a stakeholder.