953) Greece: Deposits and Loans Fund: Centenary Celebrations (1919-2019): A Commemorative 5 Cupro-nickel Coin issued by the Bank of Greece on 19.03.2019:
The Bank of Greece has issued on 19.03.2019, a new Commemorative Collector's Coin of 5 Euros in a Cupro-Nickel Coin Quality , which marks one of the country's oldest entities related to Banking and Savings - "The Deposits and Loans Fund (DLF)".
Initially founded in 1839 as the "Consignment Deposit Loan Fund," it was one of the first financial authorities established by law, 8 years after attaining recognised independence from the Ottoman Empire.
Ever since, the "Consignment Depository Loans Fund" has grown into a self-managed financial, managing, regional and private entity with its own property risk and loyalty under the supervision of the Hellenic Treasury.
After 1927, and the establishment of the Bank of Greece, it was supervised for its activities. Because the CDLF does not participate in the inter-bank market, its assets are required to be deposited with the Central Bank. The purpose of its foundation was the exclusive custody and management of all kinds of public savings and loan businesses.
In 1919, after World War I, the name was changed to remove the word "Consignment". Running parallel with the development of the country and national economy, the "Deposits and Loans Fund" (DLF) has developed other activities, mainly in the fields of capital management of various government entities. The contribution of the Deposits and Loans Fund includes essentially three distinct phases of participation in the country's development effort -
The first phase ran from its establishment in the 19th Century and in particular, from 1925 to the II World War and is characterised by a particular dynamism in the granting of loans for the performance of public utilities.
During this period, the infrastructure of water supply, drainage, electric lighting, port construction, road construction and the construction of court-houses, schools and hospitals saw their fastest development. Also significant were the great sums spent before the Second World War for the country's security, specially for the purchase of weapons and the construction of fortifications projects.
The second phase ran from the end of World War II until the early 1980s. and despite the unfavourable position of the War resulting in the loss of most of the capital reserves, it was characterised by an attempt to reshape available funds and extend its responsibilities to young people in areas showing the greatest prospects.
During this period, the accumulation of significant funds allowed the DLF to provide significant loans to both civil servants for their housing needs and to local authorities for all kinds of utilities.
The third phase began in the 1980s to the present and was characterised by the development of new institutions in the area of local government, in which the DLF played a leading role. At the same time, in preparation for the adoption of the Euro single currency in 1999 and its launch in 2002, the DLF took initiatives that strengthened their orientation into the Euro-system of banks overseen by the European Central Bank.
The DLF was especially crucial for the reconstruction of Kalamata after the earthquake on 1986 as they were able to initiate billions of Euros in loans at different times with the European Investment Bank.
In recent years, the DLF has been supporting the local government initiatives to carry out development projects and have restructured its loans to enhance their liquidity.
The Commemorative Coin:
On the Obverse of the 5 Euro Cupro-Nickel Coin is seen the original and still current emblem of the DLF, a stylised image of a griffin - a legendary creature with body, tail and head of a lion, along with horns, wings and an eagle's talons as its front feet. The griffin is seen standing on a sheaf of wheat.
Below the primary design is the inscription "100 Years of Deposits and Loans Fund" (written in Greek). Above the inscription is the year of issue and mint-mark of the Greek Mint.
The overall design is surrounded by a composite of lines and representations of wheat stalks.
On the Reverse of the 5 Euro Cupro-nickel Coin is also seen the greater design of those wheat stalks and lines. In the centre is the insignia/emblem of the Hellenic Republic along with the denomination of the coin "5 EURO" (spelt in Greek).
The specifications of this coin are:
Denomination: 5 Euros; Metal Composition: Cupro-nickel; Weight: 15.5 grams; Diameter/Size: 33.0 mm; Coin Quality: Brilliant Uncirculated (BU); Maximum Mintage: 4,000 pieces; Year of issue: 2019.
Remarks: The coin is presented in a colourful blister pack type folder, that includes information and history about the Deposits and Loan Fund.
A representation of the logo of the "Deposits and Loans Fund".
Other interesting posts on Greek Coinage and Commemorative Coins:
8) Olympian God Apollo: Greek Mythology Coin Series: A 100 Euro Gold Coin minted by the Hellenic State Mint and issued by the Bank of Greece on 19.09.2018
9) Greece: Deposits and Loans Fund: Centenary Celebrations (1919-2019): A Commemorative 5 Euro Cupro-nickel coin issued by the Bank of Greece on 19.03.2019
During this period, the accumulation of significant funds allowed the DLF to provide significant loans to both civil servants for their housing needs and to local authorities for all kinds of utilities.
The third phase began in the 1980s to the present and was characterised by the development of new institutions in the area of local government, in which the DLF played a leading role. At the same time, in preparation for the adoption of the Euro single currency in 1999 and its launch in 2002, the DLF took initiatives that strengthened their orientation into the Euro-system of banks overseen by the European Central Bank.
The DLF was especially crucial for the reconstruction of Kalamata after the earthquake on 1986 as they were able to initiate billions of Euros in loans at different times with the European Investment Bank.
In recent years, the DLF has been supporting the local government initiatives to carry out development projects and have restructured its loans to enhance their liquidity.
The Commemorative Coin:
Below the primary design is the inscription "100 Years of Deposits and Loans Fund" (written in Greek). Above the inscription is the year of issue and mint-mark of the Greek Mint.
The overall design is surrounded by a composite of lines and representations of wheat stalks.
On the Reverse of the 5 Euro Cupro-nickel Coin is also seen the greater design of those wheat stalks and lines. In the centre is the insignia/emblem of the Hellenic Republic along with the denomination of the coin "5 EURO" (spelt in Greek).
The specifications of this coin are:
Denomination: 5 Euros; Metal Composition: Cupro-nickel; Weight: 15.5 grams; Diameter/Size: 33.0 mm; Coin Quality: Brilliant Uncirculated (BU); Maximum Mintage: 4,000 pieces; Year of issue: 2019.
Other interesting posts on Greek Coinage and Commemorative Coins:
8) Olympian God Apollo: Greek Mythology Coin Series: A 100 Euro Gold Coin minted by the Hellenic State Mint and issued by the Bank of Greece on 19.09.2018
9) Greece: Deposits and Loans Fund: Centenary Celebrations (1919-2019): A Commemorative 5 Euro Cupro-nickel coin issued by the Bank of Greece on 19.03.2019
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