Central Banking

ECB to relax CCBM collateral deposit rules from May 2014

Benoît Cœuré

The ECB today announced it will remove the repatriation requirement from the correspondent central banking model (CCBM) in May 2014, meaning eurosystem counterparties will no longer be required, when borrowing liquidity from the eurosystem, to move their collateral from the investor central securities depository (CSD) to the issuer CSD.

Benoît Cœuré, a member of the ECB's executive board and recently nominated as the next chairman of the Committee on Payment and Settlement Systems (CPSS) at the

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