HFSF was established in July 2010 (under Law 3864/2010) as a private legal entity which does not belong to the public sector.
It has administrative and financial autonomy, operates exclusively according to the rules of the private sector and is subject to the provisions of its founding law. Purely private in its nature, the Fund is not affected by the fact that all of its capital is paid by the Greek Government neither by the issuance of decisions of the Minister of Finance contemplated in this Law.
In accordance with the HFSF Law, the objective of the Fund is to contribute to the maintenance of the financial stability of the Greek banking system for the sake of public interest. In this context, since its establishment in 2010 the HFSF has consistently worked towards strengthening the stability of the Greek financial system by
- participating in the recapitalizations of banks in 2013 and 2015 under its mandate to provide capital in order to cover shortfalls as defined by the relevant banking supervisory authority
- providing capital to institutions in transition and covering funding gaps
Following the successful completion of the banks Restructuring Plans, HFSF is gradually moving to the next phase by separating from the four systemic banks according to its Divestment Strategy, as an active shareholder of the banks.