
Article 1 

1. The Hellenic Republic shall be considered to be in compliance with a European Union/International Monetary Fund programme.
2. The Eurosystem's minimum requirements for credit quality thresholds, as laid down in Guideline (EU) 2015/510 (ECB/2014/60) and in particular in Article 59 and in Part Four thereof, shall not apply to marketable debt instruments issued or fully guaranteed by the Hellenic Republic.
Article 2 
Marketable debt instruments issued or fully guaranteed by the Hellenic Republic shall be subject to the specific haircuts set out in the Annex to this Decision.
Article 3 
Purchases of marketable debt securities issued or fully guaranteed by the central government of the Hellenic Republic pursuant to Decision (EU) 2015/774 (ECB/2015/10) shall be conducted — in line with Article 5(3) of that Decision and within the limits to be set by the Governing Council in accordance therewith — following a positive assessment by the Governing Council of the progress made in the analysis and reinforcement of the sustainability of Greece's public debt and other risk management considerations.
Article 4 
Decision (EU) 2015/300 (ECB/2015/6) is hereby repealed.
Article 5 

1. This Decision shall enter into force on 29 June 2016.
2. In the event of any discrepancy between this Decision, Decision (EU) 2015/774 (ECB/2015/10) and any of Guideline (EU) 2015/510 (ECB/2014/60) and Guideline ECB/2014/31, as implemented at national level by the national central banks of Member States whose currency is the euro, this Decision shall prevail.
Done at Frankfurt am Main, 22 June 2016.
The President of the ECB
Mario DRAGHI
ANNEX

Government bonds Residual maturity (years) Haircuts for fixed coupons and floaters Haircuts for zero coupon
0-1 15,0 15,0
1-3 33,0 35,5
3-5 45,0 48,5
5-7 54,0 58,5
7-10 56,0 62,0
> 10 57,0 71,0
Government-guaranteed bank bonds and government-guaranteed non-financial corporate bonds Residual maturity (years) Haircuts for fixed coupons and floaters Haircuts for zero coupon
0-1 23,0 23,0
1-3 42,5 45,0
3-5 55,5 59,0
5-7 64,5 69,5
7-10 67,0 72,5
> 10 67,5 81,0