The ECB updates rules on which assets can be used as collateral in Eurosystem loans
23 Mar 2026
Effective: 22 Jan 2026
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Who is affected:
Credit institutions and national central banks of the Eurosystem
Summary
The European Central Bank amends its temporary rules on the assets that banks can use as collateral to obtain funding. It mainly affects financial institutions operating with the Eurosystem.
Detailed analysis
PRO
Guideline ECB/2026/3 amends Guideline ECB/2014/31, which governs additional temporary measures relating to Eurosystem refinancing operations and the eligibility of collateral assets. These rules determine which assets banks may submit as collateral to access ECB liquidity. The amendment may broaden, restrict or adjust …
Full official title
OJ:L_202600691: Orientación (UE) 2026/691 del Banco Central Europeo, de 22 de enero de 2026, por la que se modifica la Orientación BCE/2014/31 sobre medidas temporales adicionales relativas a las operaciones de financiación del Eurosistema y la admisibilidad de los activos de garantía (BCE/2026/3)