DRAFT BOARD OF GOVERNORS RESOLUTION TO GRANT THE BACKSTOP FACILITY
This document sets out the decisions of the Board of Governors, to be adopted by mutual agreement, granting the actual backstop facility. This resolution also contains the most important financial conditions for the backstop.
The legal basis for this decision is Article 18a(1) of the ESM Treaty, as amended by the draft Amending Agreement. The actual approval of a loan itself remains subject to a further decision by the Board of Directors.
