The US Treasury Department updated its FATCA website January 24, reporting that Greece has signed a Model 1 intergovernmental agreement (IGA) and an understanding with the United States.
Greece and the US had previously agreed in substance to a FATCA IGA and Greece has been treated by the US as if it had a FATCA agreement in effect as of November 30, 2014.
The understanding, dated January 19, concerns the treatment under FATCA of securities registered in the Bank of Greece acting as central securities depository or in the Central Securities Depository that are held through one or more other financial institutions that are not nonparticipating financial institutions.
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