ECB harmonises rules for Eurosystem collateral management
The European Central Bank (ECB) has today published harmonised rules and arrangements for the mobilisation and management of collateral in Eurosystem credit operations marking a step towards further financial integration in the euro area and the capital markets union.
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The new rules and arrangements can be found in the guideline on the management of collateral in Eurosystem credit operations (ECB/2024/22), which the ECB published today. A document containing further information for Eurosystem counterparties on the harmonised processes, procedures and arrangements involved in the mobilisation and management of collateral in Eurosystem credit operations is also available on the ECB’s website.
The General Documentation has been amended to take account of Guideline ECB/2024/22.
The Eurosystem’s harmonised rules and arrangements and the amendments to the General Documentation will come into effect with the launch of the Eurosystem Collateral Management System (ECMS), which is planned for 18 November 2024. The ECMS is a unified system for managing assets mobilised as collateral in Eurosystem credit operations. It will replace the existing individual collateral management systems belonging to the national central banks of the euro area countries.