EFTA Document EFTA01450726

Subject: S Month Maturity, Greek Sovereign Paper, 2.5x Leverage (provided by us) Yields 10% [C] Classification: Confidential Summary As some of you may know we are in touch with a large block of illiquid 5month Greek paper. Levered 2.5x it yields 10% which may be of interest to those clients presently comfortable with Greek risk. The seller, a Greek bank who currently finances them with the ECB, is shrinking its balance sheet, we presume ahead of the upcoming AQR and stress tests. To d