FRANKFURT (MNI) – National central banks of the Eurosystem do not
have to accept bank bonds guaranteed by a member state under an EU-IMF
financial assistance programme as collateral, the European Central bank
“National central banks are not obliged to accept as collateral for
Eurosystem credit operations eligible bank bonds guaranteed by a member
state under an EU-IMF financial assistance programme, or by a member
state whose credit assessment does not comply with the Eurosystem’s
benchmark for establishing its minimum requirement for high credit
standards,” the ECB said in a press release.
The ECB is thereby amending a previous decision on additional
temporary measures relating to Eurosystem refinancing operations and
eligibility of collateral in which it had further loosened collateral
rules for its refinancing operations.
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