National Bank of Greece, the country’s biggest lender, said that it plans to sell 15 billion euros worth of mortgage-backed covered bonds to boost liquidity.
This is the second covered bond program this bank has established.
National also said it has already issued the first three series of covered bonds under the programme with a combined size of 3 billion euros.
At the same time the greek government is readying legislation to set up a 10 billion euro support mechanism for banks to turn to if their capital adequacy falls and they are unable to raise funds from markets to beef up their equity.
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