Central Banking

New global note arrangement for debt securities

The ECB confirmed Monday 12 June that the so-called New Global Note (NGN) arrangement for international debt securities is in compliance with the Eurosystem's Standards for the use of EU securities settlement systems in ESCB credit operations.

This is provided that the respective NGN is held for safekeeping by an institution that has been positively assessed against these standards by the Eurosystem.

The NGN arrangement, designed by the two international central securities depositories (ICSDs)