Central Banking

ECB to revisit collateral rules - Mersch

The European Central Bank (ECB) will change the rules regarding its money-market operations soon amid fears that financial institutions are taking advantage of the wide range of collateral it accepts to obtain funding.

Speaking at the annual Fed conference in Jackson Hole, Wyoming, Yves Mersch, the governor of the Central Bank of Luxembourg and a member of the ECB's Governing Council, said: "The Governing Council has been discussing the whole issue'' and has agreed on a ``certain amount'' of r