Letter to the Single Supervisory Mechanism of the European Central Bank in the context of Articles 77 and 78 of Regulation (EU) 575/2013
Athens, November 28th, 2016
Letter to the Single Supervisory Mechanism of the European Central Bank in the context of Articles 77 and 78 of Regulation (EU) 575/2013
National Bank of Greece S.A. (NBG) informs investors that, in the context of Articles 77 and 78 of Regulation (EU) 575/2013 (CRR) and following the conclusion of the sale of Finansbank, it has addressed a letter to the Single Supervisory Mechanism (SSM) of the European Central Bank requesting approval to repurchase the contingent convertible bonds (CoCos) amounting to €2,029.2m issued in December 2015 and held by the Hellenic Financial Stability Fund (HFSF).
The aforementioned request is in line with NBG's Capital Plan, as approved by the SSM on 13 November 2015, and the Commitments stemming from NBG's updated Restructuring Plan, as approved by the European Commission on 4 December 2015.
This announcement is made following a query by the Hellenic Capital Market Commission.