Announcements from the ECB
- Issues waiver to accept Greek sovereign debt as collateral in eurosystem credit operations
- Adopts a general reduction of collateral valuation haircuts
- Says temporary increase in eurosystem risk tolerance in order to support credit to the economy
- Statement
The backdooring of the United States of Europe continues.
This is a big step:
Accommodating the requirements on guarantees to include government and public sector guaranteed loans to corporates, SMEs and self-employed individuals and households in the ACC frameworks in order to also provide liquidity against loans benefiting from the new guarantee schemes adopted in euro area Member States as a response to the coronavirus pandemic;
That's basically backstopping everything.