The National Economy and Finance Ministry’s plan for “Hercules 3” provides for additional guarantees to banks amounting to €2 billion, and for its extension until the end of 2024.

The aim is to include in the mechanism of bad-loan management at least three more securitizations of loans pending from the four systemic banks, as well as the securitizations of smaller banks, such as of Attica Bank and Pancreta Bank.

The criteria of Hercules 3 will be stricter compared to the first and the second version, as the senior notes, which will be guaranteed by the state and will have to secure a higher investment category – i.e. more chances of collection.

Original Story: Ekathimerini | Evgenia Tzortzi 
Photo: Photo by Sergey Klimkin in FreeImages
Edition: Prime Yield