The European Financial Stability Facility (EFSF) was created by the 16 euro area member states following the decisions taken May 9, 2010 within the framework of the Ecofin Council.
As part of the overall rescue package of €750 billion, EFSF will have the capacity to issue bonds guaranteed by EAMS for up to € 440 billion for on-lending to EAMS in difficulty, subject to conditions negotiated with the European Commission in liaison with the European Central Bank and International Monetary Fund and to be approved by the Eurogroup.
EFSF has been assigned the best possible credit rating; AAA by Standard & Poor’s and Fitch Ratings, Aaa by Moody’s.
EFSF is a Luxembourg-registered company owned by Euro Area Member States. It is headed by Klaus Regling, former Director-General for economic and financial affairs at the European Commission.
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