Pandemic induced a spike in European household savings, now they could offer a boost to the recovery
Securitisation has changed and can help Europe's post-pandemic recovery
ACTIVITIES
ESM staff members' research helps improve our understanding of the euro area economy and particularly the effect of economic policies during crisis episodes.
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FACTS
€410.1 bn
Forward Commitment Capacity (i.e. ESM's remaining lending capacity)
82%
of ESM’s €500 bn lending capacity is still available
19
the number of ESM shareholders (euro area Member States)
€80.5 bn
ESM’s paid-in capital
€295 bn
Total amount of loans disbursed by ESM/EFSF
2.5
EFSF/ESM disbursed 2.5 times more in loans than IMF from 2011-2015
5
countries have successfully exited EFSF/ESM programmes: Ireland, Spain, Portugal, Cyprus, Greece
52.6%
of Greek public debt is held by EFSF/ESM (as of 30/06/2020)
€18.2 bn
Accumulated savings for the 5 programme countries in 2019 as a result of EFSF/ESM financing
42.5 years
Maximum weighted average maturity of EFSF loans to Greece
0.74%
Average interest rate charged by ESM on loans (Q4 2020)
70.6%
Percentage of total external financial assistance for Greece provided by EFSF/ESM
€11 bn
2020 target for ESM’s long-term funding (bond issuance)
40 years
the longest ESM bond maturity (issued in Dec. 2015)
€7 bn
the largest ESM bond ever issued (in Oct. 2013)
9 times
the oversubscription for the EFSF’s first bond issued in Jan. 2011
