Covered Bonds

Covered Bonds Program

The legal basis for Covered Bond issues is art. 91 of Law 3601/2007, as in force (the Covered Bonds Law). Pursuant to this Law, secondary legislation has been enacted to set out the regulatory framework with respect to the issuance of covered bonds, notably Bank of Greece Act nr. 2620/28.8.2009 (the Secondary Legislation). The Covered Bond Law supersedes general provisions of law contained in the Civil Code, the Code of Civil Procedure and the Bankruptcy Code. The Greek Covered Bonds laws and regulations have been enacted, with a view, inter alia, to complying with the standards of article 22(4) of Directive 85/611/EEC (UCITS).

Overcollateralization

By Law 5,3%
Contractual Minimum 5,3%
Committed* - CB I

23,50%

Committed* - CB II 21,96%

*The Nominal Value Test will be calculated on the basis of an Asset Percentage of 81.0 per cent (OC of 23.5 per cent) for the Covered Bonds I Programme and 82.0 per cent (OC of 21,96% per cent) for the Covered Bond Programme II.

Covered Bond Programme I Ratings

Rating Agency Long Term Issuer
Last Evaluation Date
Moody's (Link) A3 10/11/2020
S&P (Link) A- 30/4/2021

Covered Bonds Programme II

The legal basis for Covered Bond issues is art. 91 of Law 3601/2007, as in force (the Covered Bonds Law). Pursuant to this Law, secondary legislation has been enacted to set out the regulatory framework with respect to the issuance of covered bonds, notably Bank of Greece Act nr. 2620/28.8.2009 (the Secondary Legislation). The Covered Bond Law supersedes general provisions of law contained in the Civil Code, the Code of Civil Procedure and the Bankruptcy Code. The Greek Covered Bonds laws and regulations have been enacted, with a view, inter alia, to complying with the standards of article 22(4) of Directive 85/611/EEC (UCITS). 

Covered Bond Programme II Ratings

Rating Agency Long Term Issuer
Last Evaluation Date
Moody's (Link) A3 12/3/2021
S&P (Link) A- 30/4/2021

Get to know us better

Discover our actions, news, vision and values

ESG

ESG -  Εnvironment - Society - Governance

See our actions and initiatives about sustainable growth.
Learn more
Studies and Economic Analyses

Economic Analysis and Reports

All our reports, studies, and projections are available online.
Learn more
In the heart of NBG

In the heart of NBG

Our people is our most valued investment.
Learn more
Contact Information

Contact Information

Find the contact details of the Investor Relations Division.
Learn more
Corporate Governance

Corporate Governance

Find general information about our corporate governance.
Learn more
Our values are our guide

Our values

Human. Trustworthy. Responsive. Growth catalyst.
Learn more
Close

Contact Us

We are always ready to respond to your requests for information or to answer your questions about our products and services.

Request more information

Please complete the following details so we can provide you the information you need. In case of fraud, please contact our call center directly at 210 484 8484.
Optional custom content that replaces the the entire default content.
back-to-top