According to the information disclosed by BES on 10 July 2014, BES Group’s direct exposure to other GES entities as at 30 June 2014 amounted to EUR 1.2 billion, of which  4  BIS central bankers’ speeches  EUR 927 million related to loans extended to ESFG and its financial subsidiaries.
Furthermore, BES reported a total of EUR 853 million of debt securities issued by GES entities and held directly by BES retail customers, as well as a total of EUR 2 billion held by institutional clients, considered qualified investors.