Banks constitute the main source of financing. The bond market is still embryonic but has been developing steadily. The Athens Stock Exchange is increasingly used as a source of capital financing. The Greek Government has initiated legislation to encourage a venture capital market. Checks are predominately used for commercial transactions.
Credit cards are widely available and used for retail transactions.
Most of the liabilities of the commercial banks are in the form of savings deposits. No special terms govern export financing. Methods of payment are subject to individual agreements. Credit institutions may freely determine interest rates. The Bank of Greece influences interest rates by using the discount rate and other interest rates in its transactions with commercial banks as tools to control the money supply.