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From the organiser
"European Financial Stability: Status and Outlook"
Overview
At this event, Klaus Regling will discuss the future of European economic and financial stability.
Since its inaugural bond issuance back in October 2013, the ESM has become a well-established supranational issuer in euro-denominated bonds. In October 2017, the ESM launched its inaugural dollar transaction.
For the future, whilst the majority of funding will be made in euro, the ESM will aim to have a regular presence in the dollar market. All proceeds will be swapped back to euro to address currency risk. On the back of this plan, which has been thoroughly communicated to the market, the programme documentation will be updated accordingly for Rule 144A issuances.
For the future, whilst the majority of funding will be made in euro, the ESM will aim to have a regular presence in the dollar market. All proceeds will be swapped back to euro to address currency risk. On the back of this plan, which has been thoroughly communicated to the market, the programme documentation will be updated accordingly for Rule 144A issuances.
or “How does ESM fund itself ?”
ESM provides liquidity assistance to euro area Member States that are experiencing difficulty in financing themselves on the capital markets at sustainable rates. The ESM finances this activity through the issuance of debt securities. Securities issued by the ESM fall under the category of SSA (Sovereign, Supranational, Agency) issuance.
ESM Information Memorandum - 18 August 2023 (PDF, 1.24 MB)
ESM Master Dealer Agreement relating to Debt Issuance Programme - 28 September 2018 (PDF, 783 KB)
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ESM has been assigned high quality ratings reflecting
Op-ed by Klaus Regling, ESM Managing Director
Published in Frankfurter Allgemeine Zeitung (Germany)
11 August 2017
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Summary of Presentation
Summary of Presentation
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