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GLOSSARY

BIS: Bank of International Settlements

BoG: Bank of Greece

CAC: Collective Action Clauses

CB: Central Bank

CDO: Collateralised Debt Obligation

EBA: European Bank Authority

ECB: European Central Bank

EFSF: European Financial Stability Facility

ELA: Emergency Liquidity Assistance

ELG: Eligible Liabilities Guarantee

EMU: Economic and Monetary Union of the European Union

ESCB: European System of Central Banks

ESM: European Stability Mechanism

GDP: Gross Domestic Product

IMF: International Monetary Fund

MFI: Monetary Financial Institution

MRO: Main Refinancing Operation

NCB: National Central Banks

NPV: Net Present Value

OMO: Open Market Operation

SME: Small and Medium Enterprises

SMP: Securities Market Programme

SPV: Special Purpose Vehicle

TAF: Term Auction Facility

TARGET: Trans-European Automated Real-time Gross Settlement Express Transfer System

VAT: Value Added Tax