The European Central Bank (ECB) today released a new, simplified framework for assessing whether a securities settlement system can be used in Eurosystem credit operations.
Securities settlement systems (SSSs) are used for exchanging funds and securities, between two or more parties, and are operated by national and international central securities depositories (CSDs).
Crucially, these systems provide the collateral that participants in payment systems need to obtain liquidity from the central b
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