With reference to article 6 of directive 98/26/EC on settlement finality, as in force, please be informed that PANELLINIA BANK SA is, as of today, April 17, 2015, 17:00 CET, under the resolution measures prescribed in Law 4261/2014, as currently in force, by virtue of :
1. The Decision of the European Central Bank ECB/SSM/2015 – 213800HD5YY7LYTQ1369/1 as of 17.4.2015, according to which the license of PANELLINIA BANK SA is revoked,
2. The Decision of the Credit and Insurance Committee of the Bank of Greece, according to which the respective legal entity is placed under special liquidation and a special liquidator is appointed, and
3. The Decision of the Resolution Measures Committee 21/1/17.4.2015, according to which selected assets, liabilities, contractual relationships and property items of PANELLINIA BANK SA are forthwith, i.e. with effect from April 17, 2015, transferred to the credit institution by the name. SA PANELLINIA BANK SA’s property items transferred to PIRAEUS BANK include, inter alia, all legal relationships and any rights and obligations arising from its participation, in any manner, in regulated markets, exchanges, clearing systems, payment systems, financial instruments clearing and/or settlement systems, including obligations and rights relating to orders entered into the above Systems before the transfer of the PANELLINIA BANK’s property items hereunder that have not been cleared, netted or settled by that time.
All transfer orders/notices from/to the PANELLINIA BANK will continue to settle on the same cash and securities settlement accounts, which are now owned by PIRAEUS BANK SA. The cash leg of these transactions will continue to settle through the same cash management account (GR2701000420000000000610038) with the same BIC (PNELGRAAXXX), which is now owned by PIRAEUS BANK SA.