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
said Friday.

“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.

–Frankfurt newsroom +49 69 72 01 42; Email: jtreeck@marketnews.com

[TOPICS: M$$EC$,M$X$$$,M$$CR$,MGX$$$]