NOW UNDER THE PLAN THE EIB WOULD FORM A SPECIAL PURPOSE VEHICLE AN SPV THIS WOULD ISSUE BONDS AND PURCHASE SOVEREIGN DEBT WITH THE BONDS IT USED SO IT WOULD TAKE THE CAPITAL FROM THE EFSF LEVER IT UP THESE BONDS COULD ALSO BE USED AS COLATERAL AT THE ECB. OUR UNDERSTANDING IS THE PLANS FOR LEVERING THE EFSF ALREADY WELL ADVANCED.