The Trans-European Automated System for Rapid Transfer of Funds in Continuous Time (TARGET2 system), as stated in an announcement by the Hellenic Banking Association (HBA), will be closed on 7 and 10 April 2023, (i.e. Good Friday and the second day of Catholic Easter). As the specific days correspond to working days in Greece, they constitute special holidays for interbank transactions (article 11 of Law 3336/2005).

Bank branches in Greece will remain open on the above dates (because they are considered working days for their employees). However, they will provide a limited service to the trading public, since the non-operation of the TARGET2 System does not allow certain interbank transactions to take place.

The interbank transaction holiday applies to the Bank of Greece, the companies of the Athens Stock Exchange group, Interbank Systems S.A., as well as the following categories of businesses:

1. Credit institutions (Banks) operating in Greece, which include Greek credit institutions, the Deposit and Loan Fund and the branches of foreign credit institutions.

2. Businesses Providing Investment Services.

3. Financial leasing companies and claims agency companies.

4. Anonymous Fund Management Companies and anonymous portfolio investment companies.

On special holidays, all debts, from existing contracts between the above-mentioned entities and the traders, as well as the debts of the traders to any third party, are fulfilled on the next working day, that is Tuesday, April 11, 2023.

The transactions that will be carried out in the credit institutions on the days of the special holiday will be registered in their systems with an execution date on the next working day, that is Tuesday, April 11, 2023.

Furthermore (paragraph 5 of article 11 of Law 3336/2005), the obligations arising from the servicing of the Public Debt, and the loans and securities of the Greek State will be fulfilled in accordance with their special conditions on the previous or the following working day, i.e. Thursday, April 6 or Tuesday, April 11.

Following a relevant directive of the Independent Public Revenue Authority, on April 7 and 10, 2023, bank checks dated April 11 will be accepted by the Public Financial Services (PFO) and the Customs Authorities in Greece 2023.

Finally, organizations and businesses that work directly with banks to send debit records via standing orders and payroll credit records are advised to contact their cooperating bank for any further information or clarification.