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BOE laying groundwork for collateral eligibility in case of downgrades

By   || May 10, 2010 at 13:09 GMT
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I’m assuming they are referring to European sovereign debt, but the headlines do not say: If sovereign debt collateral is downgraded, the ECB says it will not change eligibility at once. They reserve the right ti apply additional haircuts to collateral at any time based on its own risk review, according to Reuters headlines.

Cable trades near its highs of the day as EUR/GBP trades at its lows, in the 0.8585 region. Cable is at 1.5045/50.

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