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ECB: Marketable assets

In order to be eligible as collateral for Eurosystem credit operations, marketable assets must comply with the eligibility criteria. Schematic overview

Eligibility criteria Marketable assets
Type of asset ECB debt certificates

Other marketable debt instruments: e.g.
Central government debt instruments
Debt instruments issued by central banks
Local and regional government debt instruments
Supranational debt instruments
Covered bank bonds
Credit institutions debt instruments
Debt instruments issued by corporate and other issuers
Asset-backed securities
Credit standards The asset must meet high credit standards. The high credit standards are assessed using Eurosystem credit assessment framework (ECAF) rules for marketable assets.
Place of issue EEA
Settlement /
handling procedures
Place of settlement: euro area
Instruments must be centrally deposited in book-entry form with central banks or an SSS fulfilling the ECB's minimum standards.
Type of issuer / debtor / guarantors Central banks
Public sector
Private sector
International and supranational institutions
Place of establishment of the issuer / guarantor Issuer: EEA or non-EEA G10 countries
Guarantor: EEA
Acceptable markets Regulated markets
Non-regulated markets accepted by the ECB
Currency Euro
Cross-border use Yes

For details, see the latest version of

  • General Documentation, Section 6.2.1,   1.1MB, en

So, in what may be my last act of "advising", I'll advise you to cut the jargon. -- My old PhD advisor, to me, 26/2/11
by Carrie (migeru at eurotrib dot com) on Tue Mar 1st, 2011 at 10:21:51 AM EST
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