The ECB updates collateral rules for Eurosystem credit operations
23 Mar 2026
Effective: 22 Jan 2026
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Who is affected:
Credit institutions and national central banks operating with the Eurosystem
Summary
The European Central Bank amends the rules on assets that banks can use as collateral to obtain credit from the Eurosystem. This mainly affects financial institutions operating with the ECB.
Detailed analysis
PRO
This ECB guideline amends the existing regulatory framework on collateral asset management in Eurosystem credit operations, updating the applicable technical criteria from January 2026. National central banks and credit institutions participating in monetary policy operations must adapt their internal collateral manage…
Full official title
OJ:L_202600692: Orientación (UE) 2026/692 del Banco Central Europeo, de 22 de enero de 2026, por la que se modifica la Orientación (UE) 2024/3129 sobre la gestión de activos de garantía en las operaciones de crédito del Eurosistema (BCE/2024/22) (BCE/2026/4)