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NIB will host an online seminar addressing the question of how to guarantee a path to sustainable recovery in light of the ongoing pandemic and climate change challenges.

The debate is organised in co-operation with the Coalition of Finance Ministers for Climate Action. The Coalition is co-led by Finland and Chile, and coordinated by the World Bank.

The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive the mandatory early repayment obligation of ESM/EFSF loans in connection with Greece’s planned second early repayment to the International Monetary Fund (IMF).

The ESM, the European Stability Mechanism, rated Aa1 (Moody’s) / AAA (Fitch) / AAA (S&P), has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction scheduled for the week of 08 March 2021, subject to market conditions.

The result of the auction of 2 March 2021 for the 3-months Bills of the ESM was as follows:

Total Bids €10,431.00mn
Competitive bids €2,056.00mn
Non-competitive bids €8,375.00mn
Allotment / Issue volume €1,499.55mn
 

Authors: Jasper Aerts, Gabriela Olariu and Efstathios Sofos

The European Stability Mechanism (ESM) will launch 3-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to €1.5 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Monday, 1 March 2021
Bidding period: Tuesday, 2 March 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 4 March 2021