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