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The Board of Governors of the European Stability Mechanism (ESM) held its ninth Annual Meeting today in Luxembourg. The Board approved the ESM Annual Report for 2020 and discussed the main developments of the ESM over the past year and its key activities, including funding, investment and lending. The Board of Governors comprises the 19 euro area finance ministers.
The result of the auction of 13 July 2021 for the 12-months Bills of the ESM was as follows:
Total Bids € 9,230.00 mn
Competitive bids € 1,078.00 mn
Non-competitive bids € 8,152.00 mn
Allotment / Issue volume € 1,099.33 mn
ESM Chief Economist Rolf Strauch will chair the panel on “Exit from Covid measures: impact on the EU banking sector”.
(Luxembourg) - The Board of Directors of the European Financial Stability Facility (EFSF) decided today to reduce to zero the step-up margin accrued by Greece for the period between 1 January and 17 June 2021, as part of the medium-term debt relief measures agreed for the country in 2018. The value of this fifth successive reduction amounts to €103.3 million, and will be reimbursed to Greece by the EFSF.