ECB promotes structured covered bonds

The European Central Bank is moving structured covered bonds from category IV to III of its collateral framework, meaning that they will have more lenient haircuts.

  • 30 Jul 2010

The move was revealed by the central bank on Wednesday in an announcement of several changes to the framework for assets eligible for use as collateral in Eurosystem market operations.

Structured, or common law, covered bonds will from January 1, 2011, sit alongside non-jumbo legislative covered bonds and multi-issuer ...

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