"This is due to the fact that problems of interpretation of existing rules have recently appeared, especially as regards [to] the provision of guarantees and the transfer of risk and benefits by government. Rulings may lead to a change in the data for some member states in the March 2006 notification." Greece, which in the past has issued a number of government related securitizations, is directing its attention at private institutions. The market is getting underway with another two deals to follow up on the recent Karta Greek credit card securitization deal for EFG Eurobank. Egnatia Bank is working on the first Greek auto-loan transaction, expected to be sized somewhere between 350 million and 450 million. Additionally, Emporiki Bank has an 800 million Greek RMBS in the works. Both deals are expected to launch late this year or early 2006. On the CMBS front, a GBP275 million ($487 million) deal from Citibank conduit Victoria Funding (EMC-III) began marketing last week.