Greece’s bank support fund (HFSF) will receive 25 billion euros worth of European Financial Stability Facility (EFSF) bonds to be used to recapitalize the country’s banks by Thursday, government officials said on Wednesday.
“The bonds are expected to be in the Hellenic Financial Stability Fund’s account by tomorrow,» an official who did not want to be named told Reuters.
The Hellenic Financial Stability Fund (HFSF) will inject capital into the country’s banks to help restore their capital base after bond swap writedowns and provisions for impaired loans.
Other officials confirmed Greece expected to receive the funds by Thursday. [Reuters]