Single Treasury Account – Public Revenues and Expenditures

Under its statutory competence as fiscal agent, the Bank of Greece provides the banking infrastructure to the Greek State for the collection of public revenues under the Single Treasury Account (read more: here) in accordance with the provisions of Law 4270/2014, as in effect. Through the Single Account, the respective Services of the State monitor and plan the cash flows to and through it, determine the level of reserves and borrowing needs and manage the available surpluses for investment.

The collections of taxes, fees, levies and other State revenues are transferred by natural persons or legal entities through financial institutions to the Single Account with automated procedures, in accordance with the guidelines of the Independent Tax Authority and the tax policy (in greek).

Through the Bank of Greece's infrastructure, the funds are channeled to Central Administration and other General Government Entities for the purposes of implementing government expenditures, grants, social security benefits as well as all forms of staff compensation.

For this purpose, all General Government Entities, i.e. the Central Government, Public Hospitals, the Local Government Organizations and the Social Security Organizations, maintain operational accounts with the Bank of Greece under the System of Treasury Accounts.  In addition to the Single Account, the System of Treasury Accounts includes the Collective Investment Fund, and the cash management accounts of General Government Entities, including the Deposits and Loans Fund, with the Bank of Greece.

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