Greece-From today at 500 euro money can go abroad per month, Published late yesterday in the Greek Government Gazette

Published late yesterday in the Government Gazette (V'1721) order of the Minister of Finance Euclid Tsakalotos (G.D.O.P.0001133EX2015 / CH.P. 252 / 08.17.2015), which made seven changes to the Act of Legislative Content of capital controls .
The government has made seven changes to the restrictions on the movement of money within Greece and abroad.
In legislation published late on Monday, the Finance Ministry now allows the transfer of 500 euros a month abroad.
It also permits parents to send a lump sum of 8,000 euros abroad to cover the expenses of children who are studying outside of Greece. The previous limit was 5,000 euros.
Greeks will now be allowed to open bank accounts, which they had not been able to do since capital controls were introduced on June 29, but only for paying bills or servicing loans. They will not be able to withdraw cash from these accounts.
Details 1) The funds transfered outside by supervised by the Bank of Greece paying institutions, including their representatives, to the amount of five hundred euro (500) per trader natural person per month, and up to monthly limit in euros for all those payment institutions, which would define and allocate per payment institution, by decision of the Approval Committee Banking ". 2) A new indent (l) on the opening of accounts to credit institutions. So from today onwards allowed to open accounts exclusively for these transactions, the need for which must be documented and provided that there is no other available account through which they can be performed: a. payment of staff salaries, b. The payment obligations of the depositor with the same credit institution arising from contracts that were drawn up before June 28, 2015, c. payment of new pensions and youth welfare benefits, d. clearing card transactions from new agreements acceptance (acquiring), e. to serve newly established after May 1, 2015, legal persons, f. service startups companies (startups) participating in new entrepreneurship support programs, g. the cash deposit as collateral (cash collateral) letter of guarantee, letter of credit or loan to the same credit institution, the. opening an account for a third purpose or compliance with requirement for execution of monetary claim under a payment order, judgment or other enforceable title or a claim settlement, which has been imposed garnishee third, for the holder of the claim, unless he has declared deposit account with any procedural act, i. the credit funds from abroad in euros or foreign currency, amounting to at least ten thousand (10,000) euros or the equivalent in foreign currency, j. the term deposit acceptance only if the recipients of coincide with the beneficiaries of the account of the feeder, deposit or current, k. Otherwise, upon approval by the Banking Commission of Approval. l. The special purpose account opening without taking up by a natural person for servicing debt arrangements in social security institutions and the Greek State, and account opening by social security institutions exclusively for the collection of social security contributions and other charges.   3. Permitted with restrictions the partial or total repayment of loans. The relevant paragraph is as follows: "8. The early, partial or total repayment of loan with a credit institution except a) the repayment in cash or money order from abroad b) the repayment by granting a new loan, for restructuring purposes, provided that the amount of the new loan is at least equal to the amount of capital outstanding of the original loan. ""   4. trpopoieitai the peritosi n 'in paragraph 11 of the PNP on remittances abroad for their students. Let the new item: 5. The case n of par. 11 of Article first replaced by the following: "N. The transfer maximum amount of five thousand (5,000) euros or the equivalent in foreign currency per calendar quarter total for accommodation and subsistence costs of students studying abroad or participating in student exchange programs. Payment takes place as required, electronically via a credit institution in an account held abroad, the student beneficiary. But where these amounts are credited directly to dorm accounts or lessor student residence, on presentation of a lease or other relevant documents, then the transporting of maximum eight thousand (8,000) or the equivalent in foreign currency per calendar quarter '.   "E. Capital transactions involving managing the liquidity of credit institutions operating in Greece and payment obligations in contract management as limited to transactions with other financial institutions internal and external / Houses Clearing Abroad under management Own Portfolio of Credit Institution and which associated with: i. Monetary Policy Instruments. ii. Settlement and clearing of transactions concluded before 06.28.2015. iii. Engagement / release of pledges, transfers for cover / exchange margin (eg based on ISDA, CSA, GMRA, CLS, Escrow, EIB, etc.), providing security, payments under transactions governed by those agreements and / or loan agreements of the PI on its own account. iv. Shifting, renewal and management of financial positions (limited positions in foreign currency derivatives transactions, other interbank transfers, etc.) that have expired and it is necessary to renew them, either partially or totally, in the same or a different contractor. v. Conclusion and settlement of new interbank transactions (including but not limited to interbank lending, derivative transactions, trade FX spot, repos, buy / sell back, securities lending, etc.) or prior termination or change existing conditions, if not lead to substantial change in total liquidity of the PI. The concept of interbank transactions including transactions and payments made to financial institutions and foreign Clearing Houses overseas subsidiaries of CIs which operate in Greece. vi. Any other interbank transaction is necessary for the management of liquidity and financial, of the Bank's foreign currency position (not limited to, foreign currency positions, derivative products, etc.) resulting from execution of authorized acts by natural or legal persons. vii. Fulfillment overall liabilities from taxes and fees and commissions and expenses incurred by the credit institution transactions, investment services firm, UCITS and their clients against trading systems, payments, securities settlement, depository, clearing firms, rating agencies, depositories, correspondent intermediaries, transaction logs, representatives payment, regulated markets or other multilateral trading facilities. viii. Customer payments in relation to securities and securitization issued directly or indirectly by the credit institution and its subsidiaries, as an indication: aa) payments coupons etc. b) reimbursement of third parties charges (fees and expenses of lawyers, administrators, Trustees, Paying Agents, etc.). c) Total or partial repayment of capital in the context of implementation of contractual obligations or trigger contractual clauses. ix. Payment of expenses of external consultants to deliver opinions on issues related to the above in i-viii transactions. x. Charges / Credits Nostro-Vostro Accounts subsidiaries and third party banks, via command-messages, regardless of currency. The transactions falling within the above framework aimed at ensuring the smooth and orderly functioning of the credit institution performed without specific information, if not materially affect its liquidity. In the above, do not carry out transactions involving customers of credit institutions. At the end of the day, these transactions will be reported to the Commission Approval Banking ". "Payments arriving from abroad by international organizations and legally constituted and operating charities and which gathered specifically for humanitarian purposes. "